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Tobacco plummets after Biden's intention to reduce nicotine in cigarettes

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The main US tobacco companies are collapsing in the closing stages of the session after the intention of the president of the United States, Joe Biden, to toughen current legislation to reduce the amount of nicotine per cigarette became known.

Altria has dropped more than 6% and in a matter of minutes has gone from $ 52 to $ 48. The falls in Philip Morris have been somewhat more moderate and has closed with a 1.3% decline, to $ 91.70. British American Tobacco, which owns brands like Lucky, lost 2.2%.

The possible policy measure would force companies to reduce the chemical in cigarettes at non-additive or minimally addictive levels. The goal is to persuade smokers to quit or switch to less harmful alternatives such as e-cigarettes, gum or lozenges, The Wall Street Journal reports.

The measure has become known a few days after the Food and Drug Administration (FDA) decides whether or not to take measures to ban menthol cigarettes. According to anonymous sources close to the situation, the administration could push for a ban on menthol, a reduction in nicotine, or both.

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