Stock prices of pharmacy chains and drug companies took a double hit Thursday afternoon as President Trump announced a "national public health emergency" for the opioid crisis and the St. Louis Post-Dispatch reported that Amazon gained approval in several states to be a wholesale drug distributor.

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Data: Money.net; Chart: Andrew Witherspoon / Axios

Key takeaways:

  • Stocks likely fell in anticipation of a government crackdown on drug distribution companies, but Trump's speech did not contain specifics about federal action against distributors.
  • News that Amazon is entering new markets has had the same effect on other industries, such as grocery chains. Amazon's move into pharmacy services was long-anticipated.
  • The end-of-day spike in CVS's share price might be explained by a Wall Street Journal report that CVS is considering an acquisition of insurance giant Aetna.

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Updated 30 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 4 p.m. ET: 19,193,661 — Total deaths: 716,735 — Total recoveries — 11,611,029Map.
  2. U.S.: Total confirmed cases as of 4 p.m. ET: 4,918,927 — Total deaths: 160,737 — Total recoveries: 1,598,624 — Total tests: 59,652,675Map.
  3. Politics: White House recommends Trump issue executive orders on coronavirus aid.
  4. Education: Cuomo says all New York schools can reopen for in-person learning.
  5. Public health: Surgeon general urges flu shots to prevent "double whammy" with coronavirus — Massachusetts pauses reopening after uptick in coronavirus cases
  6. World: Africa records over 1 million coronavirus cases — Gates Foundation puts $150 million behind coronavirus vaccine production.

Trump: "We are going a different way" on coronavirus aid

President Trump. Photo: Jim Watsonn/AFP via Getty Images

President Trump tweeted on Friday that his administration is "going a different way" with coronavirus aid after negotiations with congressional Democrats stalled again, suggesting he will use an executive order to address stimulus spending.

What he's saying: "Pelosi and Schumer only interested in Bailout Money for poorly run Democrat cities and states. Nothing to do with China Virus! Want one trillion dollars. No interest. We are going a different way!" Trump tweeted.

Trump's swift, sweeping China offensive

Illustration: Aïda Amer/Axios

President Trump's rhetoric on China has tended to run hotter than his actions — until now.

Why it matters: Even at the height of Trump's trade war, his administration never hit China as hard, as fast, and on as many fronts as it is right now.