Robert F. Kennedy Jr. might have lost his bid for the presidency, but his endorsement of Donald Trump secured him a guaranteed gig in the White House — Secretary of the Department of Health and Human Services (HHS). His first order of business? Launching his “Make America Healthy Again,” or MAHA initiative, as he calls it. But investors worry that RFK Jr.’s prescription for addressing America’s health and food challenges could alienate healthcare, food, and agriculture giants.

• A vocal anti-vaxxer during his campaign, RFK Jr. has proposed reducing childhood immunization recommendations, raising concerns among medical professionals about new and potential outbreaks of diseases long under control.
• On the news of Bobby Kennedy Jr.’s reported nomination, the Health Care Select Sector SPDR Fund ($XLV) and SPDR S&P Biotech ETF ($XBI) fell 4% and 8%, respectively.

Forward-looking: RFK Jr. has also stressed a desire to redirect institutions like the National Institute of Health from studying infectious diseases to chronic conditions like diabetes and obesity. He reportedly plans to take on Big Food and urge agencies to remove fluoride from municipal water. While RFK Jr.’s authority will have limits, analysts worry that his policies could clash with Trump’s pro-business agenda. This potential conflict could set up a war in Washington (and other agriculture-dependent states), as industry players and lawmakers navigate the possible fallout.