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Joe BidenCongratulations to our presumptive Democratic nominee, Joe Biden!
 

TexasTowelie

(111,289 posts)
Tue Feb 25, 2020, 07:03 AM Feb 2020

Health insurer shares pummeled by Sanders surge, virus worries

NEW YORK (Reuters) - As concerns over the spreading coronavirus outbreak hammered U.S. stocks, one corner of the market was confronted with another potentially game-changing prospect: a Bernie Sanders nomination.

The S&P 500 managed healthcare index of health insurance stocks <.SPLRCHMO> tumbled over 7% early Monday afternoon, compared to a 3.5% fall for the overall S&P 500 <.SPX>. Shares of industry bellwether UnitedHealth Group Inc <UNH.N> dropped 7.6% and were the biggest individual drag on the Dow Jones Industrial Average <.DJI>, while shares of Centene Corp <CNC.N> fell more than 10%.

Sanders, a U.S. senator whose progressive agenda includes a national Medicare for All health plan, scored a dominant win in the Nevada caucuses over the weekend, adding momentum in his bid for the Democratic presidential nomination to face off against U.S. President Donald Trump in the November general election.

The Vermont senator authored Medicare for All legislation that would essentially abolish private insurance in favor of a single government-run plan that covers every American. The ambitious proposal would cost more than $30 trillion over 10 years, according to independent analyses.

Read more: https://www.metro.us/news/the-big-stories/health-insurer-shares-pummeled-sanders-surge-virus-worries

If I were to vote in a presidential
primary today, I would vote for:
Joe Biden
6 replies = new reply since forum marked as read
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empedocles

(15,751 posts)
1. Virus worries far more likely hit the stock drops
Tue Feb 25, 2020, 07:47 AM
Feb 2020
If I were to vote in a presidential
primary today, I would vote for:
Undecided
 

5X

(3,971 posts)
2. So, they are already blaming Bernie, but dotard gets blamed for nothing. got it.
Tue Feb 25, 2020, 07:52 AM
Feb 2020
If I were to vote in a presidential
primary today, I would vote for:
Joe Biden
 

brewens

(13,393 posts)
3. I was looking for health insurance stocks to tank when the ACA was being put together and
Tue Feb 25, 2020, 08:04 AM
Feb 2020

debated on. I though if I saw that, we'd really be on to something. That not happening told me we would probably be a little disappointed. I consider the ACA to be progress, but just a start. At least Obama showed we could have a national health care plan. It would have of course been a lot better without the republican sabotage.

If I were to vote in a presidential
primary today, I would vote for:
Undecided
 

Renew Deal

(81,801 posts)
4. Wait till people figure out that Sanders will kill their 401k value
Tue Feb 25, 2020, 08:39 AM
Feb 2020

He won’t be he permitted in DC let alone the White House

If I were to vote in a presidential
primary today, I would vote for:
Undecided
 

Magoo48

(4,659 posts)
5. Anything that scares the Health Insurance Cartel is good news.
Tue Feb 25, 2020, 08:46 AM
Feb 2020

I look forward to the day when their greedy top management and CEOs are rendered irrelevant.

If I were to vote in a presidential
primary today, I would vote for:
Undecided
 

myohmy2

(3,118 posts)
6. and this is bad?
Tue Feb 25, 2020, 08:55 AM
Feb 2020

...it just proves Bernie's right with MFA...

If I were to vote in a presidential
primary today, I would vote for:
Joe Biden
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