Why? Does an idea hold that much power over them?

https://www.axios.com/2025/06/25/zohran-mamdani-wall-street

New York City business leaders woke up to the outcome they least expected Wednesday morning — young, popular socialist Zohran Mamdani cruising to apparent victory in the New York City Democratic mayoral primary.

Why it matters: There's a reason Kathryn Wylde, long the voice of the city's business community, said this week that leaders were "terrified" of Mamdani's rise.

For Wall Street, it's not just about Mamdani — some fear a broader rise of socialism could destabilize markets and the economy.

Zoom out: Bradley Tusk, CEO of Tusk Ventures and former campaign manager for Michael Bloomberg's 2009 mayoral race, said investors need to watch for a rise of "demagogues" on either side of the political spectrum.

"If you have a super high profile socialist mayor creating all types of new government entitlements, taxes, you know, big anti-capitalism sort of campaign…that reverberates everywhere and that generally puts pressure on markets," Tusk told Axios.

Zoom in: Tusk pointed to what he sees as a rise in "very, very progressive mayors," citing Chicago Mayor Brandon Johnson and Boston Mayor Michelle Wu as examples, albeit with mixed track records.

Johnson's approval has been at a record low for the office, while voters view Wu much more favorably.

What they're saying: Jim Bianco, president and macro strategist at Bianco Research, wrote "it appears that NYC is electing to commit suicide by Mayor" in a post on X.

This is part and parcel of what Righties have been screaming at Socialists for decades. 'OMG, they're going to destroy EVERYTHING!'

Just nuttiness. Just jerkwads who support Trump - even though they get NOTHING out of that support - and have been trained by the Rightedia for 40 years to believe 'Socialism = EEEEEVULLL!'

I support this guy, and Democratic Socialism, one thousand percent. Don't like it? Sit and spin.