Fox Business host blames stock market plunge on Bernie Sanders
Coronavirus? Never heard of her.
Fox Business host Charles Payne is attributing Monday's massive stock market drop — which is widely considered to be connected to the deadly coronavirus outbreak — to Sen. Bernie Sanders (I-Vt.).
According to Payne, Sanders' recent presidential primary win in Nevada is what caused the Dow Jones Industrial Average to tumble to its biggest one-day point drop in three years, rather than the deadly COVID-19 outbreak that has claimed over 2,600 lives and continues to surge in new countries.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Sanders decisively won the Nevada Democratic caucuses Saturday, boasting high numbers in the Democratic primary's most diverse contest thus far. Payne pointed to a dive in several health insurance stocks following Sanders' win, saying "the Bernie factor is finally rearing its head in the stock market."
Sanders' has made health care the hallmark of his campaign, but Payne attributing this to the stock market plunge might be a little iffy.
China, where the outbreak originated, boasts the world's second-largest economy, so it shouldn't be too surprising that the largest economy would be affected. Both the S&P 500 and the Nasdaq Composite fell 3.2 percent and 4 percent, respectively, on Monday, and several major industries, including several that rely heavily on Chinese consumers, have taken hits.
Still, Payne said this may be the first time Wall Street is taking "Sanders very seriously."
But Payne should know that age-old wisdom tells us Sanders' Nevada win wouldn't travel far anyway — what happens in Vegas is supposed to stay in Vegas.
Create an account with the same email registered to your subscription to unlock access.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Marianne is The Week’s Social Media Editor. She is a native Tennessean and recent graduate of Ohio University, where she studied journalism and political science. Marianne has previously written for The Daily Beast, The Crime Report, and The Moroccan Times.
-
Disney and DeSantis reach detente
Speed Read The Florida governor and Disney settle a yearslong litigation over control of the tourism district
By Peter Weber, The Week US Published
-
Visa and Mastercard agree to lower swipe fees
Speed Read The companies will cap the fees they charge businesses when customers use their credit cards
By Peter Weber, The Week US Published
-
Reddit IPO values social media site at $6.4 billion
Speed Read The company makes its public debut on the New York Stock Exchange
By Peter Weber, The Week US Published
-
Housing costs: the root of US economic malaise?
speed read Many voters are troubled by the housing affordability crisis
By Peter Weber, The Week US Published
-
Feds cap credit card late fees at $8
speed read The Consumer Financial Protection Bureau finalized a rule to save households an estimated $10 billion a year
By Peter Weber, The Week US Published
-
Immigration helped the US economy outpace peers
speed read The U.S. economy grew at an annualized rate of 3.2% last quarter
By Peter Weber, The Week US Published
-
4-day workweek gets boost from UK study
Speed Read Following a six-month trial, the majority of participating British companies are still using the truncated schedule
By Peter Weber, The Week US Published
-
US sues to block Kroger-Albertsons merger
Speed Read The Federal Trade Commission sued to block the $24.6 billion merger between the grocery giants
By Peter Weber, The Week US Published