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Qualcomm/Apple, 'Medicare for All' Talk Ignite Extreme Market Rotation

James "Rev Shark" DePorre

There are some very interesting cross-currents in the market Wednesday morning in reaction to various news events. In addition to the reversal in the indices, there is a bloodbath of selling in medical-related names, including biotechnology, and severe pressure on the cloud-related stocks that have been momentum favorites. The pressure on medical and biotechnology appears to be primarily a function of concern about "Medicare for All." This is a hot topic in the early political campaigns.