'I’m depressed and sad': Wall Street melts down over NYC mayoral contest upset

A number of Wall Street bankers, executives and hedge fund managers expressed panic and disbelief Wednesday after the upset victory of Zohran Mamdani, a self-described democratic socialist, in the New York City mayoral Democratic primary election Tuesday night.

“I’m depressed and sad,” said Rick Sandler, who runs the Midtown Manhattan hedge fund Eminence Capital, speaking with The Wall Street Journal. “If Mamdani becomes mayor, I will likely move my business and family out of New York.”

What...