By Stephen Nakrosis
Shares of some tobacco companies slipped after The Wall Street Journal reported the Biden administration was considering requiring cigarette makers to lower nicotine levels to non-addictive levels.
The WSJ also reported the administration is nearing a deadline to decide whether it will move to ban menthol cigarettes.
At 3:25 p.m. ET, the American depository receipts of British American Tobacco PLC fell 1.78% to $39.79 a share. The ADRs opened trading at $40.97 and earlier had traded as high as $41.14.
Shares of Altria Group Inc. slid 4.47% to $49.07 at 3:27 p.m. ET. The stock opened at $52.31 and traded as high as $52.55 earlier.
Shares of Phillip Morris International Inc. dipped 1.27% to $91.73 at 3:28 p.m. ET. The stock opened at $93.35 and had traded as high as $93.43 earlier in the day.
--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
04-19-21 1552ET