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Fears of a stock market sell-off have been growing in the wake of yesterday’s performance.
Yesterday (Tuesday, March 21), the Dow Jones Industrial Average and S&P 500 fell 1.1% and 1.2%, respectively. That was the Dow Jones’ biggest one-day loss since Sept. 13, 2016, while the S&P 500’s drop was the largest since Oct. 11.
Now investors are anxiously awaiting the outcome of tomorrow’s vote on the GOP’s new healthcare bill to replace Obamacare. The vote is seen as a proxy for Trump’s future political wins, especially his proposed tax cuts, which have been the primary fuel for the post-election stock market rally.
Money Morning Chief Investment Strategist Keith Fitz-Gerald appeared on FOX Business’ “Varney & Co.” to discuss the likelihood of a stock market sell-off – or rally – after the healthcare vote tomorrow.
Here’s how the markets will react…
If Obamacare-Lite passes the stock market may rally but the GOP will be toast as millions of conservatives seeking a complete repeal of Obamacare abandon the party 2018. As long as the US government forces citizen participation to feed the profits of BIG INSURANCE, in violation of liberty and the US Constitution, through health-insurance mandates then those of us who seek individual sovereignty will seek to defeat any who attempt to deny us of our freedom.
Right on I'm with you 100%
Even if "ObamaCare Lite" passes (which I hope it doesn't), I doubt there will be a mass exodus of support for the GOP. There may be a few RINOs that will lose their seats next time around ("good riddins", I say), but I don't believe people will abandon the GOP that quickly. Remember, there are a TON of other issues that plague this Country that Trump and the Republican Congress can repair and improve. And I believe Trump will lead them to do just that. I think it would take a few more "run-ins" with Congress on some of the other critical issues before Conservatives jump ship. After all – they really have no place to go, anyway.