Socialist Sanders Abruptly Withdraws from Primary... 'Trump-Biden Showdown'

[Asia Economy New York=Special Correspondent Baek Jong-min, Reporter Naju-seok] U.S. Senator Bernie Sanders announced on the 8th (local time) that he would suspend his campaign in the Democratic presidential primary. With Sanders' mid-race withdrawal, this year's U.S. presidential election is virtually confirmed as a two-way race between President Donald Trump and former Vice President Joe Biden.

Senator Sanders said in a video message that day, "It is virtually impossible to win the primary when I am trailing former Vice President Biden by 300 delegates," adding, "If there were a chance to become the presidential candidate, I would continue the primary, but there is no such path." He continued, "I support Biden to prevent the re-election of President Trump, who is the most dangerous president in modern U.S. history."

[Image source=EPA Yonhap News]

Former Vice President Biden, who is virtually confirmed as the Democratic presidential candidate, praised Senator Sanders, saying, "I want to commend Senator Sanders, who has raised his voice for a fairer and more just America," and emphasized that he would pursue Sanders' progressive policies together.

After Sanders withdrew from the race, Biden tweeted, "Together, we will defeat President Trump."

Although Senator Sanders has suspended his campaign, he plans to keep his name on the primary ballot. He intends to maintain his candidate status to confirm support for his policy pledges such as free public education and universal health insurance. This could be reflected in future Democratic presidential campaign promises.

The U.S. stock market showed an upward trend following Sanders' withdrawal from the primary. CNBC mentioned the disappearance of "tail risk," a low-probability but high-impact investment risk. On Wall Street, there had been warnings that the stock market would plummet if Sanders were elected. The Dow Jones Industrial Average closed up 3.44% (779.71 points) at 23,433.57 that day.

With Sanders' withdrawal, the November U.S. presidential election is confirmed as a two-way race between two white men in their 70s. U.S. political circles view the response to the novel coronavirus infection (COVID-19) as a decisive factor in the upcoming election. Points of interest in the election will include not only curbing the spread of COVID-19 but also accountability for failures in quarantine measures and responses to the economic recession.