Trump warns Wall Street: I'm going to cut drug prices

Donald Trump is Time’s Person of the Year

Donald Trump’s shocking November victory set off a frenzy on Wall Street to buy pharmaceutical stocks.

Investors bet that Trump would be far less likely to crack down on controversial drug price hikes compared to his rival Hillary Clinton, who had spoken out against the increases and even had a plan to lower prices. Shares of a biotech ETF spiked 9% the day after Trump’s election.

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