The best-performing US stocks right now are ones that usually do well when the economy isn’t, makers of everything from household cleaning products to food. It’s yet another black cloud for investors fretting over a growth slowdown.

Facebook raised $16bn (€12.6bn) in the biggest initial public offering by a technology company in history, pricing the shares at the top end of an increased range.

COCA-COLA said billionaire investor Warren Buffett, the soft-drink maker’s largest shareholder, is to leave the board after 17 years.