Via American Action News:

With his presidential campaign gaining momentum, investors appear more spooked than ever by the prospect of a Sanders administration.

Billionaire Stanley Druckenmiller said on CNBC’s Squawk Box that stocks would plunge across the board if Sanders wins the presidency.

WATCH:

The market today has plunged to both news of Sanders’ growing momentum and the mounting fears of a coronavirus pandemic.

However, hedge fund manager Leon G. Cooperman, fears the prospect of a Sanders presidency has bigger implications for the stock market than a coronavirus pandemic.

“I don’t have any insight into the coronavirus, but I assume, with all the great minds of the world focused on this problem, that in three or four months this will become resolved,” Cooperman told CNBC.

Investors Business Daily has more:
 

The Dow Jones index was a sea of red, with only Verizon (VZ) eking out a tiny gain. UnitedHealth Group (UNH) was the biggest loser, plunging 7.5% in heavy trade to gap down below its 50-day moving average. The stock’s gain from a November breakout has been cut to 2%.

Managed care stocks were reeling from Bernie Sanders’ win in Saturday’s Democratic Caucus in Nevada. Sanders favors a government-run health care system, which would hurt private health insurers. Managed care providers, down nearly 7%, were some of the biggest losers among the 197 industry groups tracked by IBD.

Other blue chip losers included Disney (DIS), which gapped down below its 200-day line as it shed 5.5%. American Express (AXP), Apple (AAPL), Nike (NKE) and Exxon Mobil (XOM) lost more than 4% each.

Apple sank nearly 8% before halving its loss. But in afternoon trade it remained below its 50-day average, on track for its first close below the support line since August. Apple stock is still sharply extended from a 221.47 buy point of a flat base cleared in September. But Monday’s action is a stark reminder why the 20%-25% profit-taking rule can be a good idea.

Sanders leads the majority of Democratic primary polls, even nipping at Joe Biden’s heels in South Carolina despite losing to Hillary Clinton by 50 points there in 2016.
 

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