The state will not renew a multimillion-dollar deal, Gov. Gavin Newsom said, after the chain announced it would stop distributing mifepristone in 21 states.
Investors were alarmed at suggestions by Jerome Powell, the Federal Reserve’s chairman, that interest rates could go even higher in a bid to halt inflation.
The decision applies to 21 states whose attorneys general threatened Walgreens and other pharmacies with legal action if they dispensed the pill there.