you trumpsters must feel so proud.
https://www.ccn.com/dows-disaster-gets-worse-after-bloomberg-clinton-concede-to-bernie-bros
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Dow’s Disastrous Week Gets Worse after Bloomberg & Clinton Concede to the Bernie Bros
dow, bernie sanders, hillary clinton
The Democratic party now belongs to Bernie Sanders and Alexandria Ocasio-Cortez. That could hurt the Dow and broader US stock market over the long-term. | Source: Brian Snyder/Reuters
Dow’s Disastrous Week Gets Worse after Bloomberg & Clinton Concede to the Bernie Bros
Josiah Wilmoth 06/03/2019 News, Op-ed, U.S. Market News
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The US stock market has had a week that bulls would love to forget, and the Dow Jones beating continued following Thursday’s opening bell. Following the exit of Wall Street favorites Michael Bloomberg and Hillary Clinton from the 2020 US presidential race, that drubbing could get even worse in the months to come.
Dow Continues Slow Bleed
As of 9:32 am ET on Thursday, the Dow Jones Industrial Average had plunged by 57.59 points or 0.22 percent. The S&P 500 fell 0.19 percent, while the Nasdaq lost 0.26 percent as the stock market once again failed to recover from Monday’s bloodbath.
dow jones industrial average, dji, djia
The Dow has had a week it would love to forget. | Source: Yahoo Finance
Thursday’s drop follows Wednesday’s 133.17 point Dow plunge, which was accompanied by a 0.65 percent retreat in the S&P 500 and a 0.93 percent decline in the Nasdaq.
The stock market also fell on Tuesday. Those declines wouldn’t even be worth noting had it not been for what transpired just one trading session prior, when the Dow cratered by as much as 510 points before recovering to close at a loss of 206.67 points. Tuesday’s minor decline, coupled with this morning’s pre-bell futures slip has put the Dow on track for its second consecutive weekly loss following nine straight weeks of gains.
Moderate Democrats Concede to Bernie Sanders Wing
The disappointing turn of events for the stock market comes just as the Democratic field is shaping up for the 2020 US presidential primary. This week has already seen two top-tier candidates – former New York City Mayor Michael Bloomberg and former Secretary of State Hillary Clinton – throw in the towel, tacitly conceding that this primary belongs to the Bernie Bros and the ascendant progressive wing of the party that Alexandria Ocasio-Cortez represents.
That’s not something that Wall Street wants to hear.