P&G falls after CFO flags hit from US government shutdown

Shares of consumer packaged goods giant Procter & Gamble PG.N fall as much as 3.3% to a near two-year low of $142.51 in early trading

Current-quarter growth across categories in the U.S. was down both in volume and value significantly in October, as the government shutdown delayed SNAP benefits for some consumers, CFO Andre Schulten says at the Morgan Stanley Global Consumer & Retail conference

Macro environment context in the U.S. "probably the most volatile we've seen in a long time," says Schulten; adds he does not expect November category growth to be materially different

Schulten expects organic sales growth in the low-single-digits in the U.S., the company's biggest market

In October, P&G had projected a divergence in spending in the U.S.

YTD, the company's shares are down 12% as of last close