[rad-green] Health Insurance Stocks Drive Wall Street Rebound on Biden Super Tuesday Wins

*https://www.commondreams.org/news/2020/03/04/what-more-do-you-need-know-health-insurance-stocks-drive-wall-street-rebound-biden
<https://www.commondreams.org/news/2020/03/04/what-more-do-you-need-know-health-insurance-stocks-drive-wall-street-rebound-biden>Common
Dreams          March 04, 2020'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."by Eoin
Higgins, staff writer*

[image: Former Vice President Joe Biden's performance in the Super Tuesday
contests March 3 prompted a stock market rally on Wednesday.]

*Former Vice President Joe Biden's performance in the Super Tuesday
contests March 3 prompted a stock market rally on Wednesday. (Photo: Scott
Eisen/Getty Images)*

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
<https://twitter.com/jackmirkinson/status/1235227402160287744?ref_src=twsrc%5Etfw>

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
<https://twitter.com/awgaffney/status/1235229685908459521> Dr. Adam
Gaffney, the president of Physicians for a National Health Program and an
outspoken Medicare for All advocate.

Biden on Tuesday won <https://apnews.com/7e64410893844bcaf438e11b194c35ce> 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.

MARKETS: Dow surges more than 500 points in early trading, led by health
care stocks in the wake of Joe Biden's Super Tuesday wins.
https://t.co/eFov3LHsfb pic.twitter.com/jC6PghbPtR <https://t.co/jC6PghbPtR>
— ABC News (@ABC) March 4, 2020
<https://twitter.com/ABC/status/1235216183462330368?ref_src=twsrc%5Etfw>

The market surge
<https://abcnews.go.com/Politics/wireStory/dow-industrials-surge-500-points-extending-volatile-streak-69386421>
came
after a rough week for the stock market, which at the end of February saw
its biggest decline since the 2008 financial crisis after fears of the
economic cost of a worldwide coronvirus pandemic increased.

Highlight: Joe Biden won nine states on Super Tuesday. "What this is really
showing now for the markets is that some of the more moderate candidates
like Joe Biden are picking up support, and that could be a good sign for
stocks going forward," @emily_mcck
<https://twitter.com/emily_mcck?ref_src=twsrc%5Etfw> says.
pic.twitter.com/YbOWzKWmWc <https://t.co/YbOWzKWmWc>
— Yahoo Finance (@YahooFinance) March 4, 2020
<https://twitter.com/YahooFinance/status/1235206128214118401?ref_src=twsrc%5Etfw>

Business commentators also made the connection between Sanders' victories
in the early primary states, particularly in Nevada, and the market's poor
performance last week.

On *Fox Business* February 28, billionaire Steve Forbes remarked that the
weeklong drop was not only about fears of the coronavirus.

"There's the political side," Forbes said of the reason for the poor
performance. "In the last week, week-and-a-half, the possibility of Bernie
Sanders becoming president of the United States has increased,
exponentially."

Remember when they were comparing Bernie to the Coronavirus?
#BernieOrBust2020
<https://twitter.com/hashtag/BernieOrBust2020?src=hash&ref_src=twsrc%5Etfw>
https://t.co/8zZCDWvZgh pic.twitter.com/E5ZCyTCd8A <https://t.co/E5ZCyTCd8A>
— once again i am asking (@BernieWatchdog) March 4, 2020
<https://twitter.com/BernieWatchdog/status/1235223597217714176?ref_src=twsrc%5Etfw>

According to
<https://www.washingtonpost.com/business/2020/03/04/stocks-today-biden-coronavirus-wallstreet/>
 the *Washington Post*:

Stocks of healthcare companies roared in response to Biden's performance.
Cigna was up more than 10 percent in morning trading, while UnitedHealth
Group rose nearly 12 percent. Humana jumped 1.25 percent and Anthem soared
nearly 14 percent.

Investor Ed Yardeni told the *Post* that Wednesday's spike
<https://www.cnbc.com/2020/03/03/dow-futures-show-300-point-pop-as-early-super-tuesday-results-favor.html>
was
a correction to earlier fears of what he called "Bernie Sanders' socialist
program."

"The market's sell-off last week on Sanders' primary victories and rebound
on Monday after Biden's big win in South Carolina and this morning after
Super Tuesday suggest that domestic U.S. politics may matter as much as the
global health crisis on investors," said Yardeni.

As *Common Dreams* reported
<https://www.commondreams.org/news/2020/03/04/super-tuesday-sets-stage-biden-vs-bernie-two-person-race-future-democratic-party-and>,
the results—which saw billionaire Michael Bloomberg and Sen. Elizabeth
Warren (D-Mass.) coming in far behind the two frontrunners—transformed a
once-crowded primary into a two-man race. Though Biden put up a good
showing, exit polls from the contests  showed
<https://www.commondreams.org/news/2020/03/04/every-super-tuesday-state-exit-polls-majority-democratic-voters-support-eliminating>
a
majority of Democratic voters backing the elimination of private insurance
in favor of a government-run system guaranteeing healthcare for all.

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