US Stock Markets Zoom After Socialist Bernie Sanders Drops Out Of US Presidential RaceBernie Sanders drops out of US presidential race. (Phil Roeder)

Various US stock market indices rallied yesterday (8 April) after democratic socialist politician Bernie Sanders dropped out the US Presidential race.

As per a Washington Post report, the Dow Jones industrial average rallied by 3.4 per cent to close at 780 points in the green. The NASDAQ composite rose by 204 points and Standard & Poor’s 500 index surged by 91 points or 3.4 per cent.

Sanders has been a strong advocate of implementing socialist ideas like free college education, wiping off student college debt and a wealth tax, which sparked fears of greater taxes and regulations.

Sanders had also proposed a “Wall Street Tax” to tax stocks, bonds and derivative trades so that the US can pay off the existing $1.6 trillion student debt.

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