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.
IRS erroneously shared confidential immigrant taxpayer data with DHS: court filing
Federal Judge releases four illegal immigrants convicted of murder, sex crimes from ICE Custody
Affluent Upper East Side explodes in outrage over controversial homeless shelter: ‘Unacceptable!’
Trump threatens ‘consequences’ after 6 House Republicans voted to reverse his Canada tariffs
Illegal alien youth coach could face death penalty after allegedly murdering, raping teen player
Wild Exchange: Nadler Makes Mistake of Insulting Bondi, Triggering a Scorched Earth Response Where She Brings the Receipts on His Hypocrisy and ‘Gutter’ Behavior
Chinese criminal gang allegedly recruited Navy members for sham marriages and base access
Watch: Nadler Appears to Be Dead Asleep at Epstein DOJ Hearing – Same Hearing Where He Accused AG Bondi of Not Caring About Victims
Report: This GOP Advantage Has Some Democrats Panicking About Their Midterm Chances
GOP Senator Does Deep Dive on Trump Assassination Attempt and Remains Troubled by ‘Unresolved’ Questions
DHS unloads on anti-ICE Dems after man arrested with manifesto, ‘disturbing’ alleged plot to kill agents
Grand Jury Delivers Decision on Indictments for Democrats Known as the ‘Seditious Six’
Hispanic conservatives accuse House GOP hopeful of defrauding donors and activists
Rand Paul Vows to Ask ICE Director to Apologize for Renee Good, Alex Pretti Shootings
McConnell released from hospital after health scare, to work from home as key DHS vote looms
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.”
IRS erroneously shared confidential immigrant taxpayer data with DHS: court filing
Federal Judge releases four illegal immigrants convicted of murder, sex crimes from ICE Custody
Affluent Upper East Side explodes in outrage over controversial homeless shelter: ‘Unacceptable!’
Trump threatens ‘consequences’ after 6 House Republicans voted to reverse his Canada tariffs
Illegal alien youth coach could face death penalty after allegedly murdering, raping teen player
Wild Exchange: Nadler Makes Mistake of Insulting Bondi, Triggering a Scorched Earth Response Where She Brings the Receipts on His Hypocrisy and ‘Gutter’ Behavior
Chinese criminal gang allegedly recruited Navy members for sham marriages and base access
Watch: Nadler Appears to Be Dead Asleep at Epstein DOJ Hearing – Same Hearing Where He Accused AG Bondi of Not Caring About Victims
Report: This GOP Advantage Has Some Democrats Panicking About Their Midterm Chances
GOP Senator Does Deep Dive on Trump Assassination Attempt and Remains Troubled by ‘Unresolved’ Questions
DHS unloads on anti-ICE Dems after man arrested with manifesto, ‘disturbing’ alleged plot to kill agents
Grand Jury Delivers Decision on Indictments for Democrats Known as the ‘Seditious Six’
Hispanic conservatives accuse House GOP hopeful of defrauding donors and activists
Rand Paul Vows to Ask ICE Director to Apologize for Renee Good, Alex Pretti Shootings
McConnell released from hospital after health scare, to work from home as key DHS vote looms
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.
IRS erroneously shared confidential immigrant taxpayer data with DHS: court filing
Federal Judge releases four illegal immigrants convicted of murder, sex crimes from ICE Custody
Affluent Upper East Side explodes in outrage over controversial homeless shelter: ‘Unacceptable!’
Trump threatens ‘consequences’ after 6 House Republicans voted to reverse his Canada tariffs
Illegal alien youth coach could face death penalty after allegedly murdering, raping teen player
Wild Exchange: Nadler Makes Mistake of Insulting Bondi, Triggering a Scorched Earth Response Where She Brings the Receipts on His Hypocrisy and ‘Gutter’ Behavior
Chinese criminal gang allegedly recruited Navy members for sham marriages and base access
Watch: Nadler Appears to Be Dead Asleep at Epstein DOJ Hearing – Same Hearing Where He Accused AG Bondi of Not Caring About Victims
Report: This GOP Advantage Has Some Democrats Panicking About Their Midterm Chances
GOP Senator Does Deep Dive on Trump Assassination Attempt and Remains Troubled by ‘Unresolved’ Questions
DHS unloads on anti-ICE Dems after man arrested with manifesto, ‘disturbing’ alleged plot to kill agents
Grand Jury Delivers Decision on Indictments for Democrats Known as the ‘Seditious Six’
Hispanic conservatives accuse House GOP hopeful of defrauding donors and activists
Rand Paul Vows to Ask ICE Director to Apologize for Renee Good, Alex Pretti Shootings
McConnell released from hospital after health scare, to work from home as key DHS vote looms
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.
