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.”
A Warning Charlie Kirk Gave Back in 2020 Coming True Now Within Democratic Party
French citizen who illegally cast ballot in 2022 midterms says New Jersey automatically registered him to vote
Dems put on blast over poll that shows record-low patriotism in US: ‘Tear our society apart’
Real Man: Churchgoer Can’t Find Tool to Free Kids from Sweltering Car, Says ‘My Fist Will Probably Work,’ Then, With God’s Help, Starts Smashing Glass
Alex Murdaugh’s lawyers withdraw request for civilian clothes, accuse prosecutors of creating a ‘spectacle’
Rashida Tlaib Defends Antifa Member Sentenced to 100 Years for Attempted Assassination, Calls Punishment ‘a Travesty and Totally Unjustified’
Watch: Sophie Cunningham’s Death Stare Went Super Viral as She Considered Smashing Heads to Defend Caitlin Clark
Colorado mom allegedly bought alcohol daily for 16-year-old daughter found dead with 173 empty bottles
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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.
A Warning Charlie Kirk Gave Back in 2020 Coming True Now Within Democratic Party
French citizen who illegally cast ballot in 2022 midterms says New Jersey automatically registered him to vote
Dems put on blast over poll that shows record-low patriotism in US: ‘Tear our society apart’
Real Man: Churchgoer Can’t Find Tool to Free Kids from Sweltering Car, Says ‘My Fist Will Probably Work,’ Then, With God’s Help, Starts Smashing Glass
Alex Murdaugh’s lawyers withdraw request for civilian clothes, accuse prosecutors of creating a ‘spectacle’
Rashida Tlaib Defends Antifa Member Sentenced to 100 Years for Attempted Assassination, Calls Punishment ‘a Travesty and Totally Unjustified’
Watch: Sophie Cunningham’s Death Stare Went Super Viral as She Considered Smashing Heads to Defend Caitlin Clark
Colorado mom allegedly bought alcohol daily for 16-year-old daughter found dead with 173 empty bottles
WATCH: AOC won’t rule out Senate bid after New York progressives notch primary wins: ‘Inspired and encouraged’
Chinese drone monopoly put on notice amid concerns over CCP spying: ‘Strategic mistake’
Reporter’s Notebook: Lawmakers wrestle over whether AI can make the grade in America’s classrooms
Usha Vance Mocks New York Times After Outlet Gets Weird About Her Maternity Outfit
Supreme Court Delivers Big 2nd Amendment Win, Striking Down Restrictive Concealed Carry Law
WATCH: Hearing derails as purple-haired Dem points finger, screams at chair to put DHS chief ‘in his place’
USPS wouldn’t deliver ballots in states that refuse to fork over mail-in voter info under proposed rule
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.
