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President Trump has posted a new announcement on Truth Social, the social media platform. He wrote:
“I am recommending to Senate Republicans that the Hundreds of Billions of Dollars currently being sent to money sucking Insurance Companies in order to save the bad Healthcare provided by ObamaCare, BE SENT DIRECTLY TO THE PEOPLE SO THAT THEY CAN PURCHASE THEIR OWN, MUCH BETTER, HEALTHCARE, and have money left over. In other words, take from the BIG, BAD Insurance Companies, give it to the people, and terminate, per Dollar spent, the worst Healthcare anywhere in the World, ObamaCare. Unrelated, we must still terminate the Filibuster!”
How Will Trump’s Statement Affect the Stock Market?
This latest post has the potential to affect the stock market. That’s because Donald Trump’s recommendation to redirect funds from insurance companies to individuals could lead to a decline in stock prices for major insurers like Cigna and UnitedHealth Group Inc., as their revenue streams might be threatened. This policy shift could also impact healthcare-focused ETFs such as Health Care Select Sector SPDR Fund and Vanguard Health Care ETF, potentially causing volatility as investors reassess the sector’s profitability. Additionally, the iShares Biotechnology ETF might experience fluctuations depending on how changes in healthcare funding affect biotech companies’ market dynamics.
Here are some of the stocks that might be affected:
Cigna ((CI)),
Unitedhealth Group Inc. ((UNH)),
Health Care Select Sector SPDR Fund ((XLV)),
Vanguard Health Care ETF ((VHT)),
iShares Biotechnology ETF ((IBB)).