• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

2

Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster

3

Ex-Google engineer says Larry Page, Sergey Brin and Sundar Pichai share the same trait—it's the lesson he swears by as a $7.2 billion AI CEO

1

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

2

Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster

3

Ex-Google engineer says Larry Page, Sergey Brin and Sundar Pichai share the same trait—it's the lesson he swears by as a $7.2 billion AI CEO
FinanceDavos

How Bernie Sanders and Donald Trump Are Connected To the Market Drop

By
Stephen Gandel
Stephen Gandel
Down Arrow Button Icon
By
Stephen Gandel
Stephen Gandel
Down Arrow Button Icon
January 22, 2016, 11:48 AM ET
Bernie Sanders Holds Press Conference With Activists In Chicago
CHICAGO, IL - DECEMBER 23: Democratic presidential candidate U.S. Senator Bernie Sanders, (I-VT) speaks during a news conference December 23, 2015 in Chicago, Illinois. Sanders, who is seeking the nomination from the Democratic Party talked about police reform and preventing people of color from being victimized by police officers across the country. (Photo by Joshua Lott/Getty Images)Photograph by Joshua Lott — Getty Images
Add Fortune on Google for similar content.

Both Bernie Sanders and Donald Trump have come in for a drubbing at Davos.

Participants at the World Economic Forum have taken pot shots at both candidates. In a panel discussion earlier in the week, Larry Fink, the CEO of BlackRock, said, “For those politicians who are constantly focused on a re-election and nothing more, we need a revolution. Unfortunately, the revolution may be Donald Trump.”

Dominic Barton, the global managing director of McKinsey, told Reuters that Trump will hurt the global image of the United States. And actor Kevin Spacey got laughs at a Davos cocktail party when he said that the difference between the character he plays on “House of Cards” and Trump is “one of these characters is a fictional character, and one of these is a fictional character.”

But it’s not just Trump coming in for criticism. Anthony Scaramucci, the head of hedge fund firm SkyBridge Capital, said, “Bernie Sanders is a black swan for the market.” A black swan is an unlikely event that’s associated with market plunges.

 

 

Scaramucci says he made the comment at a closed door meeting of investment managers who were attending the World Economic Forum and that his argument received broad agreement from the group. Scaramucci says the market started dropping right around the time that Sanders’ poll numbers improved and he believes two events are related.

But the same can be said for Trump. He started doing better in the polls in the summer, right before the market took a down turn. Of course, there are lots of other, better reasons that the market has been falling, namely oil and a slowdown in China. But the fact that both Trump and Sanders are doing well are unexpected events, and that’s adding to the uncertainty in the air these days. And uncertainty is bad for markets.

It’s just another reason 2016 could be a rough year for stocks.

About the Author
By Stephen Gandel
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Finance

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Finance

A data center construction site in Abilene, Texas.
AIData centers
This summer’s heat is a live stress test for data centers — here’s what it’s revealing in real time
By Tristan BoveJune 29, 2026
2 hours ago
The Supreme Court upholds Fed independence by saving Lisa Cook’s job—and also saves U.S. debt from a crisis
EconomyFederal Reserve
The Supreme Court upholds Fed independence by saving Lisa Cook’s job—and also saves U.S. debt from a crisis
By Jason MaJune 29, 2026
3 hours ago
Strategy cofounder Michael Saylor sits during a conference and looks out into the crowd.
CryptoBitcoin
Strategy may sell up to $1.25 billion in Bitcoin to calm investor jitters
By Camila Grigera NaónJune 29, 2026
4 hours ago
b
LawCrime
2 more NBA players indicted who ‘turned professional basketball into a criminal betting operation’
By The Associated PressJune 29, 2026
4 hours ago
lc
PoliticsSupreme Court
Supreme Court rules against Donald Trump in his quest to fire Fed Governor Lisa Cook — for now
By Mark Sherman and The Associated PressJune 29, 2026
4 hours ago
comcast
Big TechMarkets
Comcast stock jumps 24% for agreeing to break up with itself
By Michelle Chapman and The Associated PressJune 29, 2026
6 hours ago

Most Popular

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
Success
MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
By Sydney LakeJune 25, 2026
5 days ago
Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster
Success
Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster
By Preston ForeJune 27, 2026
2 days ago
Ex-Google engineer says Larry Page, Sergey Brin and Sundar Pichai share the same trait—it's the lesson he swears by as a $7.2 billion AI CEO
Success
Ex-Google engineer says Larry Page, Sergey Brin and Sundar Pichai share the same trait—it's the lesson he swears by as a $7.2 billion AI CEO
By Orianna Rosa RoyleJune 28, 2026
1 day ago
The retired college professor fighting a $313 trespassing ticket in Wisconsin thinks he's part of a national struggle
Environment
The retired college professor fighting a $313 trespassing ticket in Wisconsin thinks he's part of a national struggle
By Catherina GioinoJune 28, 2026
2 days ago
Cristiano Ronaldo is soccer's first-ever billionaire: He went from begging for burgers outside McDonald's to landing a $400 million contract
Success
Cristiano Ronaldo is soccer's first-ever billionaire: He went from begging for burgers outside McDonald's to landing a $400 million contract
By Preston ForeJune 28, 2026
1 day ago
Elon Musk on MacKenzie Scott giving away $26 billion of her fortune: 'Sadly,' it makes the world a worse place
Success
Elon Musk on MacKenzie Scott giving away $26 billion of her fortune: 'Sadly,' it makes the world a worse place
By Sydney LakeJune 29, 2026
5 hours ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.