WASHINGTON — In a move to shake up the tobacco industry, the Food and Drug Administration plans to cut nicotine levels in cigarettes in an effort to make them less addictive.
Officials also announced plans to promote more e-cigarettes to smokers after research has shown they can help them quit.
The shift sent cigarette company stocks into a tailspin on Friday.
The world’s biggest tobacco producers are expected to lose about $60 billion in value.
The plan gives the agency more time to design regulations for e-cigarettes.