Stock Market Responds To Sanders’ Super Tuesday Losses

After the first three primary contests, democratic presidential frontrunner Joe Biden became the former frontrunner with many politicos on both the left and right predicting that his campaign was over after Sen. Bernie Sanders (I-VT) surged ahead in the delegate count and the polls. But now the former vice president is back on top in both momentum and the delegate race after a strong showing on Super Tuesday, where he won 9 of the 15 states. With the democratic socialist, pro-“Medicare-for-All” Sanders’ chances of winning a majority of delegates plummeting, the stock market, particularly health care stocks, surged on Wednesday.

“Stocks surged on Wednesday as major victories from former Vice President Joe Biden during Super Tuesday sparked a massive rally within the health care sector,” CNBC reported Wednesday. “The Dow Jones Industrial Average traded 615 points higher, or 2.4%. The S&P 500 jumped 1.9% along with the Nasdaq Composite. … The Health Care Select Sector SPDR ETF (XLV) traded more than 3% higher. UnitedHealth and Centene jumped more than 10% each.”