Wall St drops on fears of 'Medicare-for-All' reducing healthcare profits

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Investors are worried about future profits in US healthcare stocks following growing support for 'Medicare-for-All' legislation among Democrats.

Australian shares are expected to start the day slightly higher, despite a weak session in US markets, as investors weighed up the risks of greater healthcare regulation.The Australian dollar was marginally weaker at 71.74 US cents, 54.97 British pence, and 63.48 Euro cents at 7:05am .

Wall Street, on the other hand, finished slightly in the red — as a drop in healthcare stocks overshadowed a string of positive corporate earnings and upbeat economic data.The benchmark S&P 500 was down 0.2 per cent, and the tech-heavy Nasdaq index lost 0.1 per cent. The Sanders plan, similar to his 2017 proposal that languished in the Senate, would largely eliminate private insurance and shift all Americans into a Medicare-based, government-run healthcare plan that Republicans have criticised as too costly and radical.

 

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which shows why reform is going to be hard. potential winners don't fight as hard as potential losers from policy change

And doesn't that say everything about what is wrong with capitalism right there.

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