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Dow rallies 700 points after Sanders drops out of presidential race, virus outlook improves [CNBC]
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Dow rallies 700 points after Sanders drops out of presidential race, virus outlook improvesPublished Tue, Apr 7 2020Updated Moments AgoFred Imbert@foimbertMaggie Fitzgerald@mkmfitzgeraldVIDEO5:2305:23'This is a bear market at warp speed'—Jim Paulsen on current market conditionsSquawk BoxStocks surged on Wednesday after Sen. Bernie Sanders dropped out of the presidential race, relieving some of 's political concerns amid the economic crisis stemming from the coronavirus.TheDow Jones Industrial AverageS&P 500Nasdaq CompositeSome 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. Wednesday's news puts former Vice President Joe Biden — who is seen by as a more market-friendly candidate — closer to the Democratic nomination."Sanders' exit removes the tail risk of some of his policies, immediately sets up focus on Biden vs. Trump," said Ed Mills, Washington policy strategist
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