Biotech investments and acquisitions have been declining this year, Bloomberg found, as investors are weary of Trump's ability to foster a biotech boom.

The stats: Compared to three years ago, exchange-traded funds have lost nearly half of its trading volume, per Bloomberg. Moreover, Bloomberg noted that these acquisitions — pharmaceutical and biotech — are down 13 percent this year, totaling $44 billion last quarter.

The Trump effect: Biotech investors and companies are standing by to see what relevant issues Trump's administration will move forward on, such as tax reform and the eventual Obamacare replacement, before they feel confident in investing more in the industry.

When there is a little bit more clarity on some of the policy issues we could probably see an uptick in M&A.—Jeff Greene, partner at Ernst & Young

The big questions: Will there be more dealmaking when the Obamacare repeal effort is resolved one way or another, or when Scott Gottlieb is confirmed as the next FDA commissioner? Or will it get worse if Trump keeps talking about drug prices?

Go deeper

Hurricane Zeta makes landfall on Louisiana coast as Category 2 storm

A satellite image of Hurricane Zeta. Photo: National Hurricane Center/NOAA

Hurricane Zeta is "battering southeastern Louisiana and southern Mississippi with life-threatening storm surge, high winds, and heavy rain," per the National Hurricane Center.

What's happening: The hurricane was producing maximum sustained winds of nearly 110 mph and stronger gusts after making landfall on the southeastern coast of Louisiana as a Category 2 storm earlier Wednesday.

Supreme Court rejects GOP push to cut absentee ballot deadline in N.C.

Photo: Robert Alexander/Getty Images

The Supreme Court on Wednesday rejected a request by Republicans to shorten North Carolina's deadline for mail-in ballots from nine to three days.

The big picture: This is the latest of a series of decisions over mail-in ballot deadlines in various states.

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Politics: Biden ahead in Wisconsin, Michigan as cases surge in the Midwest.
  2. Health: Surge "is real" and not just caused by more tests, Trump's testing czar saysMask mandates help control rise in hospitalizations Some coronavirus survivors have "autoantibodies."
  3. Business: Surge is sinking consumer confidence Testing is a windfall.
  4. World: Europe faces "stronger and deadlier" coronavirus wave France imposes lockdown as Macron warns of overwhelming second COVID wave Germany to close bars and restaurants for a month.
  5. Sports: Boston Marathon delayed as COVID-19 surges MLB to investigate Dodgers player who joined celebration after positive COVID test.

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