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COVID-19 is a convenient catalyst for a crash that was waiting to happen.
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‘What More Do You Need to Know?’ Health Insurance Stocks Drive Wall Street Rebound on Biden Super Tuesday Wins
“Biden is the preferred candidate for the financial markets.”
Health insurance industry stocks surged Wednesday morning in the wake of former Vice President Joe Biden’s strong showing in the Democratic presidential primary’s Super Tuesday contests, opening up 600 points after traders appeared to bet the candidate’s resurgence would box out any chance of single-payer universal healthcare.
“What more do you need to know,” tweeted journalist Jack Mirkinson of the market’s spike.
what more do you need to know https://t.co/a7ZeOAKSu8
— Jack Mirkinson (@jackmirkinson) March 4, 2020
Sanders has made Medicare for All a centerpiece of his campaign. The healthcare industry has poured millions in ad buys against Sanders after the Vermont senator won primaries in Iowa, New Hampshire, and Nevada.
“The industry has long seen Biden as their white knight,” said Dr. Adam Gaffney, the president of Physicians for a National Health Program and an outspoken Medicare for All advocate.
Biden on Tuesday won at least nine of the 14 states up for grabs to Sanders’ four. At press time, Maine was yet to be called, with Sanders and Biden locked in a razor-thin contest.
[More]
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