Zohran Mamdani won the New York City mayoral race with campaign proposals to freeze rents,
increase taxes on the wealthy and corporations, offer free bus rides, and create city-owned grocery stores.
He apparently does not have the authority to effect most of these changes.
President Trump has taken a micro-management approach with certain companies.
US Steel gave the government a "golden share" to allow its merger with Nippon Steel;
government grants for Intel were converted into an equity stake;
and Washington will take 15% of Nvidia and AMD chip revenues emanating from China.
“Though the market impact of Mamdani’s win is limited, the signal it sends isn’t.
Americans are increasingly comfortable voting for heavy-handed government,
whether the socialist rhetoric coming from the left or the mercantilism emanating from President Donald Trump
on the right. It’s an irony not lost on Rosenberg Research founder David Rosenberg.
'A free-enterprise country elects a president who embraces protectionism, economic nationalism,
and state intervention,' he writes. 'And then New York City, the world’s financial hub
and bastion of Gordon Gekko capitalism, elects a self-avowed socialist for mayor.'”
https://www.msn.com/en-us/money/markets/it-s-not-just-mamdani-big-brother-is-coming-for-the-stock-market/ar-AA1Q1gib
