Stocks Plunge +300 Points (2%) Following Obama 2012 Presidential Victory over Romney

So what did the markets think of an Obama victory and a second term of e th over-reglation and anti-business president … the markets plunged 2% and over 3oo points. It would seem that the markets are concearned of the impending business and Obamacare regs coming down the road and the impending fiscal cliff. Hmm, so much for everyone’s 401k.

Stocks took a sharp nosedive in a post-election selloff Wednesday, with the Dow logging its biggest decline in nearly a year, prompted by concerns over the looming “fiscal cliff” and amid renewed worries over Europe’s weak economy.

The Dow closed below 13,000 for the first time since early August, while the S&P 500 broke below 1,400.

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Comments

3 Responses to “Stocks Plunge +300 Points (2%) Following Obama 2012 Presidential Victory over Romney”

PublicEnemy2u on November 8th, 2012 10:28 am

So you agree the stock market is only up 73% since Obama took office, since it was up 75% the day before the election. It’s going up as I compose this reply by the way. Concerns over the looming “fiscal cliff” among millionares and billionares is high because Obama has publicly stated that he will VETO any bill that doesn’t include tax increases on the very wealthy. Let the republicans drive us off the cliff. My taxes will go up anyway. I can’t wait to watch Grover Norquist tell us a tax hike isn’t a tax hike because his “team” doesn’t raise taxes
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SM; Because markets like bail outs.

Any normal thinking person knows that rasing of taxes hurts and economy and the lowering of them makes one thrive.
Johnny on November 8th, 2012 11:34 am

The market must not hate obama that much… after all, the dow went from 8000 to 12,000+ under his tenure – I’ll take 4 years of data over one day.

Of course the greedy wall street market makers are upset that they will have to pay their fair share of taxes…..
Johnny on November 9th, 2012 8:03 am

Censoring the Truth. Such a shame.
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SM: No, we delete hateful comments. If you do not have anything to sy regarding a post, then leave. Your troll BS will not be tolerated. Have a comment that actually says something and it will be allowed, if not they will be deleted. Keep it up and you will be banned.

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