"Are You Feeling The Burn?"
Some are starting to believe that the market selloff on Monday, February 24th, which took the Dow down over 1,000 points is partly due to the rise of Bernie Sanders in the Democratic Presidental polls. As I write this article this morning, the Dow is off an additional 400 points.
While the prime reason for the drop was the continuing scare of the coronavirus spreading around the world but an open mind must consider if there is another reason for the markets weakness.
Whether you like Bernie or not is a personal decision but with Bernie rising in the polls, tonights Democratic Presidential Debate will surely be a bloodbath with attacks coming from all of the other candidates. Should be a fun evening.
Our friends at TheTechnicalTraders.com are beginning to factor in the possibility of "The Bernie Burn".
"...Bernie Sanders has been dominating the Caucus events in the US as a Socialist/Progressive candidate. For many Americans, this is a frightening concept. Even early into the Caucus voting cycle, it appears Mr. Sanders has taken a very clear leadership role headed into the 2020 Presidential election event. Business and global investors are not going to like the concept of a Socialist/Progressive US Presidential candidate. This is going to cause investors and business owners to avoid engaging in projects and opportunities until after the November 2020 elections.
Add into this fear contagion the fact that the Coronavirus event may continue to add to the global fear component of the US and global economy. How much more risk is involved because of the spread of this virus over the next 12+ months and how will this concern complicate the concerns related to the US Presidential electing event?..."
To read this latest article addressing the coronavirus and Bernie Sanders, just link on this link below: