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.”
Trump’s ‘firewall’ against socialism in battleground state punches ticket to election
Pure Evil: 3 Charged in Water, Burning Torture and Murder of Boy, 7 – Multiple Suspects Are Trans
Watch: Rules Confusion Leads to 16-Minute Delay in MLB Game as Red Sox Accidentally Score a Run
Trump looms over blue state primary as progressive gov faces far-left challenge
Darline Graham Nordone, Ralph Norman advance to runoff in Senate race to replace Lindsey Graham
Watch: Trump’s NIH Director Jay Bhattacharya Unloads on Fauci Over Texts Showing He Thought One Thing, But Said Another to American Mothers
Zuckerberg Superyacht Accused of Ignoring Vessel’s Call for Help – Alaskan Cruise Captain Comes to the Rescue
Trump directs CMS Administrator Mehmet Oz to end Medicaid gender transition funding for minors
Suspect in off-duty Philadelphia officer’s car theft linked to killing of Penn State student: police
DOJ won’t rule out new charges for Reflecting Pool vandals as Trump calls to revisit dropped cases
Vulnerable Dem’s campaign pitch clashes with ‘radical’ voting record on top culture war issue
Man wanted in robbery tied to Penn State student’s murder now sought after off-duty cop shootout
Democrats give Senate GOP new midterm ammo in opposing federal voter ID
Syria’s death sentence for Assad puts new strain on revamped relationship with Russia
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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.
Trump’s ‘firewall’ against socialism in battleground state punches ticket to election
Pure Evil: 3 Charged in Water, Burning Torture and Murder of Boy, 7 – Multiple Suspects Are Trans
Watch: Rules Confusion Leads to 16-Minute Delay in MLB Game as Red Sox Accidentally Score a Run
Trump looms over blue state primary as progressive gov faces far-left challenge
Darline Graham Nordone, Ralph Norman advance to runoff in Senate race to replace Lindsey Graham
Watch: Trump’s NIH Director Jay Bhattacharya Unloads on Fauci Over Texts Showing He Thought One Thing, But Said Another to American Mothers
Zuckerberg Superyacht Accused of Ignoring Vessel’s Call for Help – Alaskan Cruise Captain Comes to the Rescue
Trump directs CMS Administrator Mehmet Oz to end Medicaid gender transition funding for minors
Suspect in off-duty Philadelphia officer’s car theft linked to killing of Penn State student: police
DOJ won’t rule out new charges for Reflecting Pool vandals as Trump calls to revisit dropped cases
Vulnerable Dem’s campaign pitch clashes with ‘radical’ voting record on top culture war issue
Man wanted in robbery tied to Penn State student’s murder now sought after off-duty cop shootout
Democrats give Senate GOP new midterm ammo in opposing federal voter ID
Syria’s death sentence for Assad puts new strain on revamped relationship with Russia
Watch: Another Talarico Clip Comes Back to Bite Him as He Characterizes Christians as ‘Causing Trouble’
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.
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