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.”
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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.
College Football Star Charged with Heinous Crime Just Days After Engagement Goes Public
Tim Walz demands federal government ‘pay for what they broke’ after Homan announces Minnesota drawdown
Nielsen Data Appears to Show Millions of People Turning Off Bad Bunny’s All-Spanish Halftime Show
Americans could pay to bring back alleged members of ‘foreign terrorist cartel’ to US
John Fetterman says he refuses to engage in ‘sexist garbage’
Los Angeles neighborhood group seeks to install sirens to warn of ICE in area: report
George Santos demands Nancy Mace list names in Epstein case: ‘So done with the theatrics’
Wealthy Maryland school district PTA trains parents in how to disrupt ICE enforcement operations
Trump Economic Adviser Reveals How Much the Administration Cut the Deficit in Year One
Congress investigates NASA over funding ‘bilateral collaboration’ with CCP
US lawmakers warn Taiwan to ‘meet the moment’ as China stages invasion-style drills
Libs Furious After Trump Makes In-Your-Face Change to ‘Birthplace of the Modern Gay Rights Movement’ – The Stonewall Inn National Monument
Federal judge blocks Trump’s bid to move Biden-commuted death row inmates to ‘Alcatraz of the Rockies’
Nicki Minaj calls on ‘Barbz’ to tell their senators to pass the SAVE Act
DHS on brink of prolonged shutdown after Senate Democrats block funding over ICE
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.
