New York (CNN Business) Johnson & Johnson's (JNJ) stock fell as much as 11% on Friday — on track for its worst day since 2002 — after a Reuters report said the company knew for decades that asbestos was in its baby powder. The company has been grappling with lawsuits alleging some of its talcum powder products caused cancer. But the Reuters report cites documents and other evidence that indicate company executives, mine managers, scientists, doctors and lawyers knew about the problem and failed to disclose it to regulators or the public. J&J is among the most widely held stocks and it's also a member of the Dow. According to Reuters, the documents also depict successful efforts to influence US regulators' plans to limit asbestos in cosmetic talc products and scientific research on the health effects of talc.

Source: CNN December 14, 2018 17:09 UTC