U.S. equities are suffering another bout of volatility on Wednesday after intense fireworks were seen at president-elect Donald Trump’s first press conference in months. Issues such as Russian hacking of the Democratic National Committee, a “fake news” report from BuzzFeed and more were discussed.

A lack of discussion on potential fiscal stimulus measures initially slammed stocks into the red for a 100-point loss on the Dow Jones Industrial Average. A rebound has since developed, helped by a rebound in the U.S. dollar.

But for stocks in industries singled out by Trump — including pharmaceuticals which he labeled as “getting away with murder” for their pricing policies — the selling pressure continues.

Pfizer Knocked Down

Pfizer Inc. (NYSE:PFE) shares were knocked down as Trump singled out drugmakers as taking advantage of the American people with overly high drug costs despite the high volume of purchases.

He pledged to improve the bidding process, forcing drug companies to potentially compete for Medicare business.

This is something of a shock, as his Democratic rival Hillary Clinton was seen as the worse option for the industry with her calls for increased government oversight of drug prices. Currently, the government is specifically prohibited from negotiating drug prices in Medicare’s drug benefit program.

PFE shares are dropping back below their 200-day moving average after hitting double-top resistance near their November high of $34, putting its three-month uptrend at risk.

Other major drugmakers including Eli Lilly and Co (NYSE:LLY), Amgen, Inc. (NASDAQ:AMGN) and Bristol-Myers Squibb Co (NYSE:BMY) were also sent significantly lower for the day.

Lockheed Is in Unsure Territory

Lockheed Martin Corporation (NYSE:LMT) shares initially rallied following the election on hopes president-elect Trump would bolster military spending — an area he identified during the campaign.

But that has given way to weakness recently has Trump has called attention to the over- budget/behind-schedule F35 joint strike fighter program including a proclamation, via Twitter, that he tasked Boeing Co (NYSE:BA) with considering an alternative F18 Super Hornet option. Watch for an update on the program when the company next reports results on Jan. 24 before the bell.

LMT shares tripped up, then recovered — but not fully — after Trump’s Wednesday remarks. Now, Lockheed shares are testing below their 50-day moving average, risking a break of the four-month rally off of their October lows.

Walmart Spared Today, But …

Trump reiterated his call that there will be a “major border tax” for companies that move jobs overseas. Put simply, this is an import tariff which if applied across the board will hit retailers like Wal-Mart Stores, Inc. (NYSE:WMT) that depend on the flow of cheap goods manufacturers in China and elsewhere.

With retail sales tepid, retailers like WMT could see their profit margins pinched by the inability to pass through the costs of this boarder tax on to consumers.

Walmart actually moved very little in response to Trump’s reiteration of the border tax. But the selloff of the past few weeks have broken the stock’s four-month uptrend. Shares are now drifting further below their 200-day moving average.

Anthony Mirhaydari is founder of the Edge and Edge Pro investment advisory newsletters. Free two- and four-week trial offers have been extended to InvestorPlace readers.