And you think there's a connection between the Dow's drop and the Obama win?
You go to the track, see that a jockey with red silks wins the first race, and put your whole BR on the next jockey with red silks?
Anyone can spin market changes any way they want.
Intelligent people don't spin them at all.
Dow sheds 486 points
Post-election worries about the weak economy are front and center
NEW YORK (CNNMoney.com) -- Stocks fell sharply Wednesday, with the Dow sliding as much as 513 points, as Barack Obama's historic victory gave way to renewed worries about the struggling economy.
The Dow Jones industrial average (INDU) lost 486 points or 5%. The blue-chip average lost as much as 513 points earlier. The Standard & Poor's 500 (SPX) index lost 5.3% and the Nasdaq composite (COMP) gave up 5.5%.
Investors were taking a classic "buy the rumor, sell the news" response to President-elect Barack Obama's victory over John McCain, said Bill Stone, chief investment strategist at PNC Financial Services Group.
Stocks had rallied Tuesday as the election got underway. But that rally capped off a more than weeklong advance that left the S&P 500 up at least 18%, which set stocks up for a pullback on Wednesday
Post-election worries about the weak economy are front and center
NEW YORK (CNNMoney.com) -- Stocks fell sharply Wednesday, with the Dow sliding as much as 513 points, as Barack Obama's historic victory gave way to renewed worries about the struggling economy.
The Dow Jones industrial average (INDU) lost 486 points or 5%. The blue-chip average lost as much as 513 points earlier. The Standard & Poor's 500 (SPX) index lost 5.3% and the Nasdaq composite (COMP) gave up 5.5%.
Investors were taking a classic "buy the rumor, sell the news" response to President-elect Barack Obama's victory over John McCain, said Bill Stone, chief investment strategist at PNC Financial Services Group.
Stocks had rallied Tuesday as the election got underway. But that rally capped off a more than weeklong advance that left the S&P 500 up at least 18%, which set stocks up for a pullback on Wednesday
anybody with a half a brain would realize that Obama winning had nothing to do with the dow tanking. This was just the scumbags on wallstreet taking more profits after the run up the last few days.
The scumbags on wallstreet are the ones who have destroyed this country. Look what the speculators did with oil this summer, running the price up to 150 just so they could then turn around and short oil all the way back to the 60's.
The scumbags on wallstreet are the ones who have destroyed this country. Look what the speculators did with oil this summer, running the price up to 150 just so they could then turn around and short oil all the way back to the 60's.
Brain
Let's see, should we listen to some low life on an RX Sports forum or should we listen to the experts on CNBC and CNN who said the DOW plunge today was a reaction to the election. If you had enough money to invest in the market you would know Obama will try and tax ALL CAPITAL GAINS at 30%. Good reason for market to drop.
Let's see, should we listen to some low life on an RX Sports forum or should we listen to the experts on CNBC and CNN who said the DOW plunge today was a reaction to the election. If you had enough money to invest in the market you would know Obama will try and tax ALL CAPITAL GAINS at 30%. Good reason for market to drop.
