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Politics may be the root cause, but underlying the carnage in health-care stocks is a lesson investors seem to learn over and over: that too much love can be a bad thing. “It tends to be a popular topic as you get to election season because it’s one of the pinpoints in everybody’s financial life,”…

“The dominoes are falling. Some of the bubbles have been popped,” Michael Ball, president and lead portfolio manager of Denver-based Weatherstone Capital Management Inc., said by phone. “The market is acting like we’re moving to a phase of a synchronized global bear market,” he said. “We’re like a small boat going through big waves.” Spiraling…