The stock market took a serious dip on Monday. Most pundits attributed the market uncertainty to the coronavirus that is currently wreaking havoc in China. While the World Health Organization has said that they think the spread of the virus has hit its peak, many brokers are still concerned.
Today on Fox News, Fox Business host attributed the market plunge to a whole different phenomenon. According to Pierce, the market took a dive because Bernie Sanders won the Nevada primary over the weekend.
Pierce was asked by America’s Newsroom host what he thought the cause of the sink was. “The Bernie factor is finally rearing its head in the stock market,” replied Pierce. “Molina Health, one of the biggest health insurance in this country, is down eight percent. United Health is down over six percent,” he explained. “Anthem is down five percent. Hospital stocks are getting hit.”
Co-host Sandra Smith then weighed in, saying, “Now these stocks got hammered when Elizabeth Warren(D-MA) was in the lead, and when she had her biggest point of leading in the polls, all of these stocks were under an extreme amount of pressure. he began to wane and some of these names… came out with great earnings estimates. They’ve rebounded pretty nicely.”
Pierce ended the segment by saying, “This is the first time I think Wall Street is taking Bernie Sanders very seriously.”
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Todd Neikirk is a New Jersey-based politics and technology writer. His work has been featured in psfk.com, foxsports.com, and PoliticusUSA. An avid pet lover, he has been known to contribute to Pet Lifestyles Magazine. He enjoys sports, politics, technology, and spending time at the shore with his family.