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.”
Pittsburgh doctor stabbed to death after intruder allegedly attacks him, wife as they slept: police
New Jersey Gov Mikie Sherrill calls on lieutenant governor to resign after sexual harassment investigation
FBI says source of its jobs portal breach still unknown as hackers allege employee data compromised
Michigan nurse accused of breaking bones and bruising premature infant at children’s hospital
Xi can’t escape protesters’ cries at deafening dinner demonstration
College Basketball Coach-Turned ESPN Personality Dies at 47
Watch: Xi Descends Into Laughter as Trump Shows off ‘President Autopen’ Picture in Place of Joe Biden’s Portrait
Talarico, Buoyed by Strong Gen Z Support, Leads Paxton Outside Margin of Error in New Poll
DOJ announces $25 million ANGEL grant program as it hosts violent crime victims
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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.
Pittsburgh doctor stabbed to death after intruder allegedly attacks him, wife as they slept: police
New Jersey Gov Mikie Sherrill calls on lieutenant governor to resign after sexual harassment investigation
FBI says source of its jobs portal breach still unknown as hackers allege employee data compromised
Michigan nurse accused of breaking bones and bruising premature infant at children’s hospital
Xi can’t escape protesters’ cries at deafening dinner demonstration
College Basketball Coach-Turned ESPN Personality Dies at 47
Watch: Xi Descends Into Laughter as Trump Shows off ‘President Autopen’ Picture in Place of Joe Biden’s Portrait
Talarico, Buoyed by Strong Gen Z Support, Leads Paxton Outside Margin of Error in New Poll
DOJ announces $25 million ANGEL grant program as it hosts violent crime victims
Unearthed clip exposes clash between El-Sayed and ex-GOP rival: ‘Muslims definitely hate you’
What’s on the menu for Trump’s state dinner with China’s Xi? One American staple is notably missing
Watch: ‘Oh, My God! Why Are We Saying “Free Palestine” Then?’ LGBT Activist Learns Muslims She’s Cheering for Hate Gays
Angel mom says blue state DAs are putting illegal immigrant criminals before public safety
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Netanyahu fires in all directions at UN, rebuking critics for ‘lies about my country’ as scores of delegates walk out
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.
