Business

Mass. Movers

Gun maker falls as legislative debate nears

Vice President Joe Biden on Thursday sketched out a plan for gun legislation.
Jin Lo Scalzo/EPA
Vice President Joe Biden on Thursday sketched out a plan for gun legislation.

Smith & Wesson Holding Corp. fell on news the White House will soon propose a ban on sales of assault weapons, limits on high-capacity ammunition magazines, and universal background checks for gun buyers. The vice president will give the president recommendations by Tuesday. Wednesday, the California State Teachers’ Retirement System pension fund, a Smith & Wesson investor, said it will avoid any makers of guns and ammunition magazines that are illegal in California.

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