This is going to be one of those days. Let’s hope it doesn’t turn into something even bigger.

The consumer staples segment is 11% of the total of all three of my portfolios.

Shares of Philip Morris International, Kimberly-Clark and Mondelez International were all down more than 3%, sliding along with all of the other stocks in the S&P 500’s consumer-staples sector.

Investors’ attention on consumer staples doesn’t seem unwarranted. Of the 11 S&P 500 sectors, consumer staples have the most exposure to Russia. About 1.5% of the sector’s revenue last year came from Russia, the eighth-biggest contributor, according to FactSet data. Russia ranks below that across the other 10 sectors of the benchmark.

Since Russia began its incursion into Ukraine, investors have been trying to determine the knock-on effects for companies in the U.S., from supply disruptions to economic sanctions. That has led to widespread selling of stocks around the world, with some of the biggest losses accruing across companies that have the strongest ties to Russia.

Consumer-Staple Stocks Fall as Investors Weigh Russia’s Impact (wsj.com)