You know, perhaps it was not coronavirus that was sinking the stock market. Perhaps it was the surge of Democratic presidential candidate Sen. Bernie Sanders of Vermont.
Following former Vice President Joe Biden’s killer performance on Super Tuesday, health care stocks and the market itself came roaring back, Fox Business reported.
Wednesday saw the Dow Jones industrial average climb more than 1,173 points while the Standard & Poor’s 500 index rose four percent and the Nasdaq composite almost reached four percent.
MarketWatch linked those changing numbers in part to fears over Sanders’ “Medicare for All” proposal.
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CFRA analyst Sel Hardy said that Sanders’ signature plan would lead “to the termination of existing health insurance plans,” the outlet reported.
“In terms of our overall outlook for our stocks, unless there is a major shift in market conditions, Centene Corp., UnitedHealth, Humana Inc., and Cigna Corp. are set for double-digit top-line growth in the next three years, in our view, as they continue to have strong fundamentals,” Hardy wrote in a note to clients.
Keith Speights of The Motley Fool wrote that the rise in health care and health insurance stocks is directly linked to Sanders’ faltering on Tuesday.
“Sen. Sanders advocates a Medicare for All program that would largely eliminate the need for health insurance. His strength in the ongoing presidential campaign caused investors to worry about what might happen with big companies including Anthem, Humana, Cigna, UnitedHealth Group, and CVS Health (which owns Aetna),” Speights wrote.
“Now, however, former Vice President Biden appears to be the frontrunner for the Democratic presidential nomination. Several candidates have dropped out of the race and endorsed Biden, with former New York City mayor Mike Bloomberg the most recent to do so.”
Who is running to replace Graham Platner?
Air Force rescinding 135 promotions after test scoring error: ‘This is going to be hard’
Viral Clip Proves Jasmine Crockett Still Can’t Blame Herself for Senate Primary Loss to Talarico: ‘It Was a Racist Race’
Watch: Trump Says Iranian Leaders Begging for New Deal But He’s Not Sure ‘They’re Worthy’
Trump says Democrats replacing Platner is ‘very hard for them to do’
Charlie Kirk family demands judge reveal hidden evidence from accused assassin’s hearing
Trump’s voter ID bill catches unlikely break as McConnell remains sidelined
DOJ’s Harmeet Dhillon: Some states have ‘homework to do’ to keep noncitizens from voting in midterm elections
House Republican Thomas Massie suggests Obamacare could now be labeled ‘Trumpcare’
Trump holds Washington hostage over SAVE Act as midterm clock ticks on GOP control
US on track to intercept 16 times as many suspected terrorists at border under Trump thanks to cartel designations
Maryland may finally see redistricting action — just not the way Wes Moore wanted
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Tyler Robinson preliminary hearing: Judge orders redactions to ex-lover’s video testimony
Social media influencer and model, 22, killed in violent highway crash
Speights warned that Sanders could still win the nomination, and that if he does, “healthcare stocks, in general, and health insurance stocks, in particular, will likely be highly volatile.”
Democrats always present an existential threat to the stock market, but Sanders and his free-ride plans present an even more prominent danger than usual.
Coronavirus scares likely had something to do with the dip in the market, but it is tough not to see the correlation between Sanders taking a pounding and the market bouncing back.
It goes to show what many of us have said all along. Electing a Democrat, particularly a socialist, as president would annihilate the economy.
Who is running to replace Graham Platner?
Air Force rescinding 135 promotions after test scoring error: ‘This is going to be hard’
Viral Clip Proves Jasmine Crockett Still Can’t Blame Herself for Senate Primary Loss to Talarico: ‘It Was a Racist Race’
Watch: Trump Says Iranian Leaders Begging for New Deal But He’s Not Sure ‘They’re Worthy’
Trump says Democrats replacing Platner is ‘very hard for them to do’
Charlie Kirk family demands judge reveal hidden evidence from accused assassin’s hearing
Trump’s voter ID bill catches unlikely break as McConnell remains sidelined
DOJ’s Harmeet Dhillon: Some states have ‘homework to do’ to keep noncitizens from voting in midterm elections
House Republican Thomas Massie suggests Obamacare could now be labeled ‘Trumpcare’
Trump holds Washington hostage over SAVE Act as midterm clock ticks on GOP control
US on track to intercept 16 times as many suspected terrorists at border under Trump thanks to cartel designations
Maryland may finally see redistricting action — just not the way Wes Moore wanted
Music and patriotism: Dukes of Hazzard star praises community and family at Great American State Fair
Tyler Robinson preliminary hearing: Judge orders redactions to ex-lover’s video testimony
Social media influencer and model, 22, killed in violent highway crash
Not that Biden would be much better. He has moved to the left on many issues, including a much more relaxed stance on illegal immigration.
There is also the issue of Biden’s advanced years. If he were to pick a progressive vice president who would be a heartbeat away from the presidency, it could be another downer for the market.
Biden does not advocate a “Medicare for All” system right now, but rest assured that is where the Democratic Party is heading.
One Super Tuesday victory by the lesser of two evils is not going to stop that train.
That is why it is important to elect not only President Donald Trump again in November, but also a Republican House and Senate to finally fix health care.
Story cited here.
