BUSINESS, Commerce

Trumps Gives Thumbs Up As Insurers’ Stocks Fall

President Donald Trump has proved that he is no friend of the health insurance companies. He bragged that with the stroke of the pen he had put insurance stocks in free fall.

Trump with his new executive order aims to end federal subsidies to those companies that help low-income Americans afford their medical coverage.

“Health Insurance stocks, which have gone through the roof during the ObamaCare years, plunged yesterday after I ended their Dems windfall!” the president told his 40.5 million Twitter followers.

Shares of insurers that remained on Affordable Care Act exchanges slumped late last week.

St. Louis-based Centene Corp. dropped more than 3 percent. Even large health insurers that have mostly or entirely exited the Obamacare exchanges saw an impact, and publicly traded hospital chains fell sharply as well. Hospital operator Tenet Healthcare Corp. tumbled 5 percent.

Nigel Belle, Readers Bureau, Fellow

Edited by Jesus Chan

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