Bridgewater Associates founder, president and CIO Ray Dalio. Photo: David A.Grogan/CNBC/NBCU Photo Bank/NBCUniversal via Getty Images

Bridgewater Associates bet more than $1 billion that either the S&P 500, the Euro Stoxx 50 or both will fail by March, the Wall Street Journal reports.

The big picture: The massive wager is one of a growing number of bearish trades as stock markets reach new highs and as some investors worry about a correction. It's also caused the price of some options to rise.

What to watch: March 2020 is well into the Democratic primaries. If Sen. Elizabeth Warren wins the Democratic nomination or the presidency, some financial predictions show markets will fall.

  • As Axios' Dan Primack has reported, Warren has put a bullseye on Wall Street, private equity and her overall fight against corporations.

Bridgewater declined to comment on its trades to WSJ: "We have no positions that are intended to either hedge or bet on any potential political developments in the U.S."

  • Its founder, Ray Dalio, tweeted later on Friday that the article is "wrong": "I want to make clear that we don’t have any such net bet that the stock market will fall."

Go deeper: Elizabeth Warren's frontrunner status is bad news for private equity

Editor's note: This article has been updated to include a tweet from Bridgewater founder Ray Dalio.

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Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 9:45 p.m. ET: 19,282,972 — Total deaths: 718,851 — Total recoveries — 11,671,491Map.
  2. U.S.: Total confirmed cases as of 9:45 p.m. ET: 4,937,441 — Total deaths: 161,248 — Total recoveries: 1,623,870 — Total tests: 60,415,558Map.
  3. Politics: Trump says he's prepared to sign executive orders on coronavirus aid.
  4. Education: Cuomo says all New York schools can reopen for in-person learning.
  5. Public health: Surgeon general urges flu shots to prevent "double whammy" with coronavirus — Massachusetts pauses reopening after uptick in coronavirus cases.
  6. World: Africa records over 1 million coronavirus cases — Gates Foundation puts $150 million behind coronavirus vaccine production.

Warren and Clinton to speak on same night of Democratic convention

(Photos: Abdulhamid Hosbas/Anadolu Agency via Getty Images, Sean Rayford/Getty Images)

Sen. Elizabeth Warren and Hillary Clinton both are slated to speak on the Wednesday of the Democratic convention — Aug. 19 — four sources familiar with the planning told Axios.

Why it matters: That's the same night Joe Biden's running mate (to be revealed next week) will address the nation. Clinton and Warren represent two of the most influential wise-women of Democratic politics with the potential to turn out millions of establishment and progressive voters in November.

Trump considering order on pre-existing condition protections, which already exist

Photo: Jim Watson/AFP via Getty Images

President Trump announced on Friday he will pursue an executive order requiring insurance companies to cover pre-existing conditions, something that is already law.

Why it matters: The Affordable Care Act already requires insurers to cover pre-existing conditions. The Trump administration is currently arguing in a case before the Supreme Court to strike down that very law — including its pre-existing condition protections.