While it's a longshot to become law despite the backing of some contenders for the Democratic presidential nomination, the proposal has the power to upend company stock prices.(Photo: Shutterstock)
(Bloomberg) –Politics can be an ugly business. Health-care politics, especially so. Health-care companies that get mixed up in politics? That was $28 billion worth of ugly on Tuesday, and the stock market damage continued on Wednesday.
“Presidential primary politics,” said Evercore ISI analyst Michael Newshel, are “more in focus than fundamentals.”
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