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 envoy warns China’s power move at sea is threat ‘we cannot afford to ignore’
Socialists set sights on Taylor Swift after ‘tacky’ NYC wedding sparks left-wing backlash
Trump ordered to pay $5.8 million to E. Jean Carroll as judge rejects request to delay payout
DOJ records reveal possible classified security lapses inside Jack Smith’s office during Trump prosecution
Authorities searching for K2 cargo plane crew that disappeared near Pakistan
Bombshell: Platner Girlfriend Says He Would Secretly Remove Condoms During Sex When She Wasn’t on Birth Control
On Same Day as Platner Bombshell, Another Dem Sex Scandal Explodes – Candidate Allegedly Shoved Hand Down Victim’s Trousers, Fondled Him, and Worse
Top Dem admits Trump ‘wisely’ made critical demand to NATO allies: ‘Love and hate relationship’
Leftist California group pushes to add ‘Black English’ to schools’ multilingual education program
Officers in Maryland respond to reported assault, discover guns and unusual group of animals
Watch: US Conducts Massive Strikes, Hits 80 Targets After Iran Attacks Ships in Strait, This as Trump Says Ceasefire Is Dead
DOJ Puts Election Officials in All 50 States on Notice: Prevent Noncitizen Voting or Else
Erika Kirk comforts a stranger in tears during hearing for husband’s accused assassin Tyler Robinson
Shipping through Strait of Hormuz declared dangerous with Iran ceasefire in jeopardy
Platner campaign putting ‘thumb on scale’ to influence possible replacement, Maine Dem alleges
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 envoy warns China’s power move at sea is threat ‘we cannot afford to ignore’
Socialists set sights on Taylor Swift after ‘tacky’ NYC wedding sparks left-wing backlash
Trump ordered to pay $5.8 million to E. Jean Carroll as judge rejects request to delay payout
DOJ records reveal possible classified security lapses inside Jack Smith’s office during Trump prosecution
Authorities searching for K2 cargo plane crew that disappeared near Pakistan
Bombshell: Platner Girlfriend Says He Would Secretly Remove Condoms During Sex When She Wasn’t on Birth Control
On Same Day as Platner Bombshell, Another Dem Sex Scandal Explodes – Candidate Allegedly Shoved Hand Down Victim’s Trousers, Fondled Him, and Worse
Top Dem admits Trump ‘wisely’ made critical demand to NATO allies: ‘Love and hate relationship’
Leftist California group pushes to add ‘Black English’ to schools’ multilingual education program
Officers in Maryland respond to reported assault, discover guns and unusual group of animals
Watch: US Conducts Massive Strikes, Hits 80 Targets After Iran Attacks Ships in Strait, This as Trump Says Ceasefire Is Dead
DOJ Puts Election Officials in All 50 States on Notice: Prevent Noncitizen Voting or Else
Erika Kirk comforts a stranger in tears during hearing for husband’s accused assassin Tyler Robinson
Shipping through Strait of Hormuz declared dangerous with Iran ceasefire in jeopardy
Platner campaign putting ‘thumb on scale’ to influence possible replacement, Maine Dem alleges
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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