NYC mayor Adams exits race as reelection campaign falters
NegativeFinancial Markets

New York City Mayor Eric Adams has exited the race for reelection as his campaign struggles to gain traction. This development is significant as it opens the door for Democratic socialist candidate Mamdani, who has proposed controversial policies like freezing rents and increasing taxes. His rise in popularity could reshape the city's political landscape, especially with the election approaching in November.
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