Illustration:Aïda Amer/Axios

Altria's $12.8 billion investment for a 35% stake in Juul is at risk of becoming one of the worst corporate investments of all time.

The big picture: Sometimes it's darkest before the light, but right now it looks like Altria got smoked.

The latest: Juul keeps getting hit left and right these past few weeks — particularly after the recent spate of vaping-related lung diseases. Juul is also facing a possible Congressional subpoena after failing to provide documents in July.

  • Last week, President Trump proposed banning all flavored vaping pods from the U.S. market, including mint and menthol.
  • Earlier this week, Juul products disappeared from Chinese e-commerce sites JD.com and Alibaba's Tmall, without explanation.
  • Yesterday, India banned e-cigarettes entirely.

Go deeper: The global anti-vaping tipping point

Go deeper

Dion Rabouin, author of Markets
1 hour ago - Economy & Business

Coronavirus surge is sinking consumer confidence

Data: Hamilton Place Strategies, CivicScience; Chart: Axios Visuals

The rise in coronavirus cases in certain parts of the U.S. is stunting confidence across the country, a crop of new reports show.

Driving the news: After stalling during the previous two-week period, overall economic sentiment declined for the first time in two months, according to the Economic Sentiment Index, a biweekly survey from data firm CivicScience and Hamilton Place Strategies (HPS).

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Politics: Obama: Trump is "jealous of COVID's media coverage."
  2. Health: Mask mandates help control the rise in coronavirus hospitalizations. Hospitals face a crush.
  3. Business: Coronavirus testing is a windfall. Winter threat spurs new surge of startup activity.
  4. Media: Pandemic causes TV providers to lose the most subscribers ever.
  5. World: Putin mandates face masks.

The GOP's monstrous math problem

Illustration: Sarah Grillo/Axios

Republicans, win or lose next week, face a big — and growing — math problem.

The state of play: They're relying almost exclusively on a shrinking demographic (white men), living in shrinking areas (small, rural towns), creating a reliance on people with shrinking incomes (white workers without college degrees) to survive.

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