Trump said that many companies were "getting away with murder" and that there would be more competitive bidding practices for federal contracts in his administration. Mylan MYL , which has already come under Congressional scrutiny for dramatic price hikes of its life-saving allergy medication EpiPen, fell 3.
Trump's tough talk about drug prices can't be reassuring to investors, many of whom had believed that Hillary Clinton was likely to be tougher on the health care industry than Trump. Trump threat fails to halt drug price hikes so far in Clinton attacked the drug industry several times on the campaign trail, but Trump didn't bring much attention to the issue of drug prices.
That has now changed, although it shouldn't come as a huge surprise to investors. Trump has been more of a populist than a traditional, pro-Big Business Republican. He's complained about the high cost of Air Force One as well as the F fighter plane, comments that have led to volatility in the stocks of the companies that make those jets -- Boeing BA and Lockheed Martin LMT.
Trump also lamented the fact that many pharmaceutical and biotech companies are producing goods overseas instead of in the United States. It's a familiar refrain for Trump, who has also taken car companies Ford F , GM GM -- and even Japan's Toyota TM -- to task for making cars in Mexico.
Trump also has criticized Carrier-owner United Technologies UTX for moving jobs to Mexico. The broader market remains near all-time highs after surging in the first few weeks after the election.
Twitter Plunges as More Shares Hit Market - The New York Times
The Dow , which was up about points and near 20, when the press conference began, quickly gave up nearly all it gains and slipped into negative territory for a bit. But the market rebounded as the press conference wore on.
The VIX VIX , a gauge of market volatility, also shot higher at the start of the press conference before pulling back. Start your day right with the latest news driving global markets, from major stock movers and key economic headlines to important events on the calendar.
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Did Donald Trump's Tweets Cause Macy's Stock to Plunge? - TheStreet
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