Dow Futures Dive As Bloomberg Implosion Locks In Bernie Sanders

Dow Futures Dive As Bloomberg Implosion Locks In Bernie Sanders 1
  • U.S. stock market futures fell after Bernie Sanders nomination odds moved above 50% for the first time.
  • Sanders was buoyed by the fact that Mike Bloomberg had a historically bad night, as his odds plummeted after an attack from Elizabeth Warren.
  • Dow bulls were quick to buy the dip, but Wall Street still looks entirely complacent to the risk of a Sanders victory.

Dow futures fell around 100 points to 29,244 Wednesday evening as the Democratic debate in Nevada sparked a violent reaction in betting odds that pushed Bernie Sanders above a 50% chance to win the nomination for the first time. The catalyst for this move was a devastating onslaught against Mike Bloomberg, led by Elizabeth Warren, which sent the former mayors odds crashing.

Dow Futures Tumble As Bernie Sanders Takes Control

The stock market has been confident that Donald Trump will secure reelection for some time. In addition to this, the rise of former New York City Mayor Mike Bloomberg also had Dow bulls hoping that a moderate candidate might stand a chance of winning the Democratic nomination.

Dow futures extended losses as Bernie Sanders became the betting market’s odds on favorite for the Democratic nomination. Source-Yahoo Finance

Unfortunately, those dreams seem to have imploded as Bernie Sanders delivered a dominant performance in Nevada. At the same time, Bloomberg, making his first appearance in a debate, took heavy blow after heavy blow.

The damage to the billionaire’s prospects was immediately apparent in the betting odds, as a flash crash ensued.

Mike Bloomberg’s nomination odds (purple line) collapsed Wednesday night as Bernie Sanders (light blue) moved above 50% for the first time. Source-Predict It

Mike Bloomberg’s Campaign May Be Over

Pinpointing the precise moment that Bloomberg’s campaign may have ended, a carefully targeted question from an MSNBC moderator about sexual harassment allegations teed up Elizabeth Warren to go on the attack, with the following,

“Mr. Mayor, are you willing to release all of those women from those nondisclosure agreements? So we can hear their side of the story?”

You could then feel the entire Democratic establishment’s jaws drop as the billionaire made the following retort,

“None of them accuse me of doing anything other than — maybe they didn’t like a joke I told

As Bloomberg floundered, Sanders’ own betting odds did something equally significant, rising above 50% for the first time.

The Dow Jones will open to Bernie Sanders as more likely than not to win the Democratic nomination, the first time this has happened since the race began.

The Dow Jones Still Looks Complacent To A Sanders 2020 Ticket

Given how frightened Wall Street is of a Bernie Sanders presidency, it remains to be seen how much longer the stock market can ignore his rise. Billionaire Leon Cooperman recently called the Senator from Vermont a more significant threat to the stock market “than the coronavirus.”

Openly in favor of tackling corporate greed, Sanders wants to tax extreme wealth and reform the U.S. healthcare industry. This makes him public enemy No.1 for a bubbly Dow Jones pumped up by years of Donald Trump’s deregulation efforts.

Given that Trump was a massive outsider to win the presidency, it seems likely that more risk premium needs to be priced into the Dow Jones if Sanders is on the ballot in November. Several national polls still have him beating Trump in a general election.

Given that the president’s best chance of reelection lies in the continued rise of the Dow, the runaway success of Bernie Sanders might not be as beneficial to him as his campaign believes.

This article was edited by Samburaj Das.

About the author

E-Crypto News was developed to assist all cryptocurrency investors in developing profitable cryptocurrency portfolios through the provision of timely and much-needed information. Investments in cryptocurrency require a level of detail, sensitivity, and accuracy that isn’t required in any other market and as such, we’ve developed our databases to help fill in information gaps.

Related Posts

E-Crypto News Executive Interviews

Automated trading with HaasBot Crypto Trading Bots

Crypto Scams

Millions in Cryptocurrency Stolen by Scammers in the Last Month According to Tenable Research
November 24, 2021
Behind The Scenes: How this Crypto Community Responded to + $50m Hack
October 18, 2021
Crypto Scams
Crypto Scams Still Persistent In 2021, SEC Warns About Red Flags To Watch
September 9, 2021
Poly Network
Here’s How Hackers Stole Over $600 million in the Poly Network Attack
August 12, 2021
The World’s Most Infamous Crypto Hacks and Scams
July 31, 2021

Blockchain/Cryptocurrency Questions and Answers

GamStop
How Does Bitcoin Casino Work + 2021 Beginner’s Guide
November 8, 2021
Cryptocurrency
How to Buy and Sell Cryptocurrency
November 8, 2021
What Are Bitcoin Futures And How Will They Work In 2022?
November 4, 2021
Ethereum
The Unconventional Guide to Ethereum
October 28, 2021
ICo Presale
The Science Behind ICO Presales…
October 14, 2021


CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin33,952 1.56 % 4.66 % 21.26 %
Ethereum2,232.3 1.11 % 9.42 % 33.49 %
Tether1.010 1.54 % 1.22 % 1.05 %
Binance Coin346.53 1.20 % 8.99 % 30.50 %
USD Coin1.010 1.18 % 1.02 % 0.98 %
Cardano1.000 3.70 % 10.19 % 28.84 %
XRP0.5716 1.28 % 7.53 % 26.67 %
Solana85.80 3.46 % 13.69 % 42.00 %
Terra63.54 4.64 % 5.48 % 26.97 %
Polkadot16.52 2.04 % 10.57 % 40.45 %

bitcoin
Bitcoin (BTC) $ 33,350.00
ethereum
Ethereum (ETH) $ 2,191.48
tether
Tether (USDT) $ 0.999569
binance-coin
Binance Coin (BNB) $ 340.51
usd-coin
USD Coin (USDC) $ 0.99703
cardano
Cardano (ADA) $ 0.965112
xrp
XRP (XRP) $ 0.562357
solana
Solana (SOL) $ 82.23
terra-luna
Terra (LUNA) $ 60.69
polkadot
Polkadot (DOT) $ 16.09