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.”
25 years later, 9/11 memories endure as nation gathers to honor nearly 3,000 lives lost
Ontario premier wants Republicans to lose House and Senate over Trump’s trade war
The unlucky 13: States bordering Canada are particularly hard-hit by trade war
Wendell Berry, 1934-2026
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Top GOP senator reveals what Dem colleagues are fretting about behind closed doors
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Vance declares Democrats ‘party of hatred,’ says party has moved beyond big government, censorship
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.
25 years later, 9/11 memories endure as nation gathers to honor nearly 3,000 lives lost
Ontario premier wants Republicans to lose House and Senate over Trump’s trade war
The unlucky 13: States bordering Canada are particularly hard-hit by trade war
Wendell Berry, 1934-2026
Trump admin’s list of US-designated ‘foreign terrorist’ groups in Latin America expands to 21
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Hasan Piker, cowboys, Charlie Kirk, and more: Top six takeaways from Republican midterm convention Night 2
Vance describes his hopes for baby son as he lays down a marker for 2028 with the speech of his life
Charlie Kirk supporters return to site of assassination 1 year later: ‘We are still standing’
Crowd erupts as Vance smacks down protester waving Mexican flag: ‘Get your a– over there’
Juror on Lindsay Clancy trial says ‘we let down Lindsay’ following mistrial
Top GOP senator reveals what Dem colleagues are fretting about behind closed doors
Patrol sergeant accused of murdering sheriff’s captain in yearslong romantic dispute over woman they dated
Several People Who Were Fired Over Charlie Kirk Comments Got Big Payouts or Were Given Their Jobs Back
Vance declares Democrats ‘party of hatred,’ says party has moved beyond big government, censorship
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.
