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.