Trump says NYSE expansion to Dallas is 'unbelievably bad' for NYC as Big Apple enters Mamdani era

President Donald Trump has warned against a potential expansion of the New York Stock Exchange to Dallas, saying that it would be an "unbelievably bad thing" for the Big Apple. The plans for the expansion have emerged recently, and the stock exchange intends to broaden its footprint in the southern portion of the US. 

Trump posted his comments to Truth Social, "Building a 'New York Stock Exchange' in Dallas is an UNBELIEVABLY BAD THING FOR NEW YORK. I can't believe they would let this happen. A big test for the new Mayor!"

Dallas Mayor Eric Johnson said of the upcoming expansion, "President Trump is right! New York City’s financial institutions moving to Dallas isn't good for New York, but it's now inevitable," per Fox Business. 

"I’ve said it before and I’ll say it again: Dallas is America’s first Sanctuary City from Socialism," he added. "Our financial services sector has been steadily growing for years, and now business leaders from across the country—and especially in New York—clearly see that Dallas embodies the future of free enterprise and the American dream."

Johnson has previously said that he expects many financial firms will be relocating to the Lone Star State from the Big Apple, as socialist New York City Mayor Zohran Mamdani has been elected to lead one of the largest cities in the world and the center of capitalism. 

"New York has a mayor who is openly hostile towards the business community and is pushing for higher taxes on job creators," Johnson said. "As a result, I predict an avalanche of Wall Street firms moving to Dallas."

Texas as well as Florida have been seeing business growth as residents from states such as New York and California are flocking to more business-friendly states. Between 2012 and 2022, 380,000 New Yorkers relocated to Florida, taking around $37 billion in taxable income.