Wall Street is freaking out that Donald Trump’s choice for vice-president is a young senator from Ohio, best-selling author and populist J.D. Vance. In his speech to the Republican National Convention, Vance attacked Wall Street barons, saying, “We’re done, ladies and gentlemen, catering to Wall Street … We’ll commit to the working man.”

It’s hard to overstate the earthquake this running-mate pick has caused in the citadels of power. “Wall Street will be begging for the return of Lina Khan after two months of the Trump-Vance administration,” said one New York dealmaker to the Financial Times, referring to the chair of the Federal Trade Commission and Joe Biden’s chief anti-truster.