It was a market reaction to a California court ruling last Friday when a dying groundskeeper was awarded damages of nearly $290 million, with the judges finding that Monsanto - now belonging to Bayer - should have warned buyers that its flagship Roundup weed killer could cause cancer.
The ruling came Friday afternoon after the Superior Court jury deliberated for more than two days, USA Today reported.
Monsanto has stated that it will appeal the verdict.
Satish Shah, highways network manager at Lincolnshire County Council, said: "We understand that our contractors use glyphosate for weed treatment, but only as a spot treatment to tackle weeds".
The case by plaintiff Dewayne Johnson, filed in 2016, was fast-tracked for trial due to the severity of his non-Hodgkin's lymphoma, a cancer of the lymph system that he alleges was caused by Roundup and Ranger Pro, another Monsanto glyphosate herbicide.
"I think that's something everybody should be scared of, because in this application, however you feel about Monsanto and Roundup, if we apply that same philosophy that courts don't have to use science and evidence to make rulings, then that's a very risky place for society".
It awarded $39 million in compensatory and $250 million in punitive damages.
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Everyone is pretty much aware Woods has had four back surgeries and dealt with plenty of pain in the process. Woods was playing for his 15th major championship - and his first since 2008.
Monsanto - a St. Louis-based company which was acquired by Bayer pharmaceuticals in June - denies claims that Roundup can cause cancer.
"The jury got it wrong", Monsanto Vice President Scott Partridge told reporters.
If the litigation generates large verdicts against Monsanto, it could have a material impact on Bayer's bottom line, said Chris Perrella, an analyst for Bloomberg Intelligence.
"The jury's verdict is just the first step in this case", Bayer said in a statement on Monday.
In a 2015 study by the International Agency for Research on Cancer, they concluded that glyphosates were a "probable carcinogen to humans". He was diagnosed with non-Hodgkin's lymphoma in 2014. Johnson declined to take questions from reporters.
Specifically relevant to non-Hodgkin lymphoma, a long run study of more than 50,000 licensed agricultural pesticide applicators in North Carolina and Iowa published in May reported that "in this large, prospective cohort study, no association was apparent between glyphosate and any solid tumors or lymphoid malignancies overall, including National Hockey League and its subtypes". The agency's assessment additionally found "no other meaningful risks to human health when the product is used according to the pesticide label".
Australia's National Farmers' Federation has rejected the finding of a U.S. court that the weedkiller Roundup causes cancer, saying it set a "reckless precedent" that could harm agriculture.