Democratic presidential candidate Sen. Bernie Sanders (I-Vt.) speaks to the media after the second night of the first Democratic presidential debate on June 27, 2019 in Miami. (Photo: Cliff Hawkins/Getty Images)
Apr 08, 2020
The stock market soared Wednesday in the aftermath of Sen. Bernie Sanders' suspension of his presidential campaign, a telling moment that emphasized the threat the Vermont lawmaker's bold agenda and egalitarian vision presented to Wall Street's bottom line.
As of this writing, the Dow Jones average had climbed more than 700 points following the senator's announcement.
"Sanders' exit removes the tail risk of some of his policies, immediately sets up focus on Biden vs. Trump," Ed Mills, Washington policy strategist at Raymond James, toldCNBC Wednesday. "Biden's policies will get a new scrutiny now he is the presumptive nominee, but the truth of the matter is that the market will be looking towards Washington more to help the economy and much of the assistance matches his platform."
\u201cWall street feared Bernie. #NotMeUs #ThankYouBernie https://t.co/fqx47WWR8p\u201d— Arabs For Bernie (@Arabs For Bernie) 1586371530
CNBC reported that the announcement from Sanders--which effectively gives former Vice President Joe Biden an uninterrupted path to the 2020 Democratic presidential nomination--combined with hopes that the U.S. economy could recover more quickly than expected from the coronavirus outbreak that crippled and paralyzed the globe.
According to CNBC:
The major averages hit their session highs after Sanders made his announcement. Some of Sanders' policy proposals, including Medicare for All, raised concern among several business owners and investors who feared taxes would go up under his presidency.
The news that Sanders was suspending his campaign was met with sadness from progressives, who mourned the end of a campaign that challenged corporate power and the supremacy of Wall Street while galvanizing a large and diverse working-class coalition into a unified movement.
Sanders, in a livestreamed speech to supporters Wednesday, vowed to continue the fight.
"We have taken on Wall Street, the insurance companies, the drug companies, the fossil fuel companies, the military industrial complex, the prison industrial complex and the greed of the entire corporate elite," said Sanders. "That struggle continues."
Join Us: News for people demanding a better world
Common Dreams is powered by optimists who believe in the power of informed and engaged citizens to ignite and enact change to make the world a better place. We're hundreds of thousands strong, but every single supporter makes the difference. Your contribution supports this bold media model—free, independent, and dedicated to reporting the facts every day. Stand with us in the fight for economic equality, social justice, human rights, and a more sustainable future. As a people-powered nonprofit news outlet, we cover the issues the corporate media never will. |
Our work is licensed under Creative Commons (CC BY-NC-ND 3.0). Feel free to republish and share widely.
The stock market soared Wednesday in the aftermath of Sen. Bernie Sanders' suspension of his presidential campaign, a telling moment that emphasized the threat the Vermont lawmaker's bold agenda and egalitarian vision presented to Wall Street's bottom line.
As of this writing, the Dow Jones average had climbed more than 700 points following the senator's announcement.
"Sanders' exit removes the tail risk of some of his policies, immediately sets up focus on Biden vs. Trump," Ed Mills, Washington policy strategist at Raymond James, toldCNBC Wednesday. "Biden's policies will get a new scrutiny now he is the presumptive nominee, but the truth of the matter is that the market will be looking towards Washington more to help the economy and much of the assistance matches his platform."
\u201cWall street feared Bernie. #NotMeUs #ThankYouBernie https://t.co/fqx47WWR8p\u201d— Arabs For Bernie (@Arabs For Bernie) 1586371530
CNBC reported that the announcement from Sanders--which effectively gives former Vice President Joe Biden an uninterrupted path to the 2020 Democratic presidential nomination--combined with hopes that the U.S. economy could recover more quickly than expected from the coronavirus outbreak that crippled and paralyzed the globe.
According to CNBC:
The major averages hit their session highs after Sanders made his announcement. Some of Sanders' policy proposals, including Medicare for All, raised concern among several business owners and investors who feared taxes would go up under his presidency.
The news that Sanders was suspending his campaign was met with sadness from progressives, who mourned the end of a campaign that challenged corporate power and the supremacy of Wall Street while galvanizing a large and diverse working-class coalition into a unified movement.
Sanders, in a livestreamed speech to supporters Wednesday, vowed to continue the fight.
"We have taken on Wall Street, the insurance companies, the drug companies, the fossil fuel companies, the military industrial complex, the prison industrial complex and the greed of the entire corporate elite," said Sanders. "That struggle continues."
The stock market soared Wednesday in the aftermath of Sen. Bernie Sanders' suspension of his presidential campaign, a telling moment that emphasized the threat the Vermont lawmaker's bold agenda and egalitarian vision presented to Wall Street's bottom line.
As of this writing, the Dow Jones average had climbed more than 700 points following the senator's announcement.
"Sanders' exit removes the tail risk of some of his policies, immediately sets up focus on Biden vs. Trump," Ed Mills, Washington policy strategist at Raymond James, toldCNBC Wednesday. "Biden's policies will get a new scrutiny now he is the presumptive nominee, but the truth of the matter is that the market will be looking towards Washington more to help the economy and much of the assistance matches his platform."
\u201cWall street feared Bernie. #NotMeUs #ThankYouBernie https://t.co/fqx47WWR8p\u201d— Arabs For Bernie (@Arabs For Bernie) 1586371530
CNBC reported that the announcement from Sanders--which effectively gives former Vice President Joe Biden an uninterrupted path to the 2020 Democratic presidential nomination--combined with hopes that the U.S. economy could recover more quickly than expected from the coronavirus outbreak that crippled and paralyzed the globe.
According to CNBC:
The major averages hit their session highs after Sanders made his announcement. Some of Sanders' policy proposals, including Medicare for All, raised concern among several business owners and investors who feared taxes would go up under his presidency.
The news that Sanders was suspending his campaign was met with sadness from progressives, who mourned the end of a campaign that challenged corporate power and the supremacy of Wall Street while galvanizing a large and diverse working-class coalition into a unified movement.
Sanders, in a livestreamed speech to supporters Wednesday, vowed to continue the fight.
"We have taken on Wall Street, the insurance companies, the drug companies, the fossil fuel companies, the military industrial complex, the prison industrial complex and the greed of the entire corporate elite," said Sanders. "That struggle continues."
We've had enough. The 1% own and operate the corporate media. They are doing everything they can to defend the status quo, squash dissent and protect the wealthy and the powerful. The Common Dreams media model is different. We cover the news that matters to the 99%. Our mission? To inform. To inspire. To ignite change for the common good. How? Nonprofit. Independent. Reader-supported. Free to read. Free to republish. Free to share. With no advertising. No paywalls. No selling of your data. Thousands of small donations fund our newsroom and allow us to continue publishing. Can you chip in? We can't do it without you. Thank you.