President Joe Biden is set to block Nippon Steel's (NISTF, NPSCY) take over of US Steel (X), according to a report from The Washington Post and others. As headlines of the news surfaced, shares of US Steel began to drop over 18%.

Market Domination Anchors Josh Lipton and Julie Hyman break down the latest development for these companies and what it could mean for them moving forward.

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This post was written by Nicholas Jacobino