Marlboro cigarettes, a product of Philip Morris International
Daniel Acker | Bloomberg | Getty Images
Tobacco stocks tumbled Monday on a report that the Biden administration is considering whether to cap nicotine levels in cigarettes.
The report, which cited people familiar with the matter, was published in the Wall Street Journal. The paper said the discussion came as public officials approach a deadline to say whether they plan to seek a ban of menthol cigarettes or not.
The Biden administration is trying to determine if it should reduce nicotine levels in conjunction with a menthol ban or as a separate policy, the people told the Journal.
Nicotine doesn’t cause cancer, but it does make…