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(Bloomberg) -- Morgan Stanley downgraded the maker of Jack Daniel’s whiskey to a hold-equivalent rating on Monday, citing weaker-than-expected demand for spirits after strong growth during the Covid-19 pandemic. Most Read from BloombergTraders Line Up for ‘Once-in-a-Generation’ Emerging Markets BetBlackstone Is Building a $25 Billion Empire of Power-Hungry Data CentersTrump Cash Stockpile at Risk From $450 Million Dual VerdictsEvergrande Set for Liquidation as China Property Crisis Drags OnAmazo

(Bloomberg) -- Two months of missile, drone and hijacking attacks against civilian ships in the Red Sea have caused the biggest diversion of international trade in decades, pushing up costs for shippers as far away as Asia and North America. The disruption is spreading, fueling fears of broader economic fallout. Most Read from BloombergChina Weighs Stock Market Rescue Package Backed by $278 BillionApple Dials Back Car’s Self-Driving Features and Delays Launch to 2028An Isolated Israel Doubles Do