Already paying the price

All it took was a few mentions of Medicare for All this spring and suddenly health-care bulls were stuck with a $300 billion loss. For investors just warming to a government that professed to put their interests first, the chill has been palpable.Everywhere you look, policy prescriptions from an avowedly more progressive wing of the Democratic Party are threatening to undo the loving embrace Wall Street has enjoyed under Donald Trump’s presidency. Upstarts who just swept into power, and those with their eyes on 2020, want everything from a breakup of big tech to a ban on buybacks.Forget about whether any of it passes. The mere existence of a reinvigorated progressive class is already raising temperatures.

Finance taking losses on future Swamp spending.