Stocks Plummet On Obama Victory

After Obama’s reelection the stock market took a nosedive. What a surprise.

Stocks fell quickly this morning, as investors digested what President Obama’s reelection would mean for portfolios and Wall Street.

Uncertainty about fiscal and monetary policies consumed investor attention. The Dow Jones industrial average dropped below the 13,000 mark for the first time since August. The blue chip index at 10:30 fell 1.8%, 243.65 points, to just above that key level to 13,003.85. That’s approaching a three hundred-point drop, the first such decline in nearly a year. (Read More)

It’s even worse now. It’s almost noon and the Dow is down to 12,917.