OBAMA REELECTION PROMPTS SELLOFF
The Dow Jones industrial average plunged more than 300 points on Wednesday – hours after U.S. President Barack Obama was elected to a second term. The Dow shed 312.95 points – or 2.36 percent of its total value – easily its worst single day performance of the year.
Meanwhile the NASDAQ was down 74.64 points (2.48 percent) and the S&P 500 fell 33.86 points (2.37 percent).
The Dow slipped below 13,000 for the first time in two months as investors fretted the impact of Obama’s reelection on tax policy – specifically the possible implementation of broad tax hikes beginning on January 1, 2013 as well as tax hikes associated with Obamacare. They were also greeted by a fresh round of depressing economic data from Europe – specifically a report from the European Commission which projected that the Euro Zone economy would contract by 0.3 percent this year.
That contraction – as well as the stagnation projected for 2013 – impacts American exports (in fact South Carolina is especially susceptible to European economic woes).
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39 comments
It’s still Bush’s fault.
Sky falling already FITS?
Most people with expertise in this kind of thing believe the drop had way more to do with what’s going on in Germany than what happened in our election.
Especially since the Dow has gone up consistantly since Obama took office. Why would it react to no change. Oh, you are worried the Republicans will dig their heels on avoiding the fiscal cliff so they can hurt the enconomy and blame it on Obama. You may be right.
Do you mean Germany’s sudden desire to see the gold we are holding for them?
Yet had the movement been positive you would be crediting Obama’s re-election.
Move along: nothing to do with the Eurozone.
Or with Wall Street crapping its pants over the election of Elizabeth Warren to the US Senate.
I am so sick to death of the fucking stock market.
If the Apple CEO sneezes, it goes down 150 points. It is a barometer only of hysterical immediate reactions and bodes NOTHING for what will actually come.
If a selloff continues for a month, draw a conclusion from that. Otherwise, it’s just a waste of time.
But oil is way down again today. Is that due to re-election? no, same logic though.
Suppressed future demand via speculation on future needs…
This is nothing that the ongoing QE can’t resolve given time.
Further, our masters may decide to step up the ongoing money printing in which case the stock market will really zoom!
It’s the Buzz Lightyear monetary policy:
“To Infinity and beyond!”
But who cares: Obama’s got 4 more years to oversee our ambassadors, work his hurricane clean-up magic and run our economy….
As long as he’s happy…that’s really all that matters…
It helps w/ my guilt…even though he was Pampered and rich compared to how my little honkey, @$$ that grew up in poor SC….
I’m never ceased to be amazed…
“I’m never ceased to be amazed…”…..you must have grown up in a poor place, with poor education.
“It helps w/ my guilt…even though he was Pampered and rich compared to how my little honkey, @$$ that grew up in poor SC….”
That’s it, let it all out Sweetie. We know, Mitt was Pampered and rich compared to how your little honkey, @$$ that grew up in poor SC. We know you didn’t want to support him, you hated him in the primaries because of his religion like the rest of the religious bigots who grew up in your honkey neighborhood.
We know you didn’t want to support the bad, rich man. But he’s gone now, Big T. All gone. Don’t cry…that bad monster is off to the Caymans or off to ski with the beautiful people. He’s still richer than you can ever dream, but now you can sleep at night.
BigoT, werent you supposed to leave this site if Obama won? Holy shit, you’re starting to do the same shit that went awry last time.
When did I say that you F%^&*N Lying Piece of Liberal $%^t….????
Big T you were suppose to leave. Now move along and leave. Go ahead and get the fuck out. Bye, bye. You lose. Now go. Nothing more here. Go away. Bye, bye loser.
You are too DAMN DUMB to be “amazed”
Most analysts predicted the fall, mostly due to the ” cliff” we are facing no matter who won!!
Dow went up 5000 points during Obama’s first term.
Guess political causality only applies on downward movements.
In 2016 it will still be Bush’s fault, which will cause Jeb Bush to lose to Hillary Clinton.
Not so Fast! Biden My Time said on Tuesday that he planned to vote for himself as president in 2016…
And speaking of downwards credibility spirals, where is the self-proclaimed prodigy Sid?
@Roseanne and those that feel the same (paritcullarly the world renowned economist Jan)
UUUhhhhh, no.
The dow will shit until this fiscal cliff BS is over. Asia is in the tank as of 5:15am. The dow will likely continue to fall (generally) until this BS is done. Then its going to go through the roof for the same reason it did the last time.
You see, Bushy, Oshitforbrains and all their ilk have come to the realization that stock people have the same desires as the rest of you fucking libtard commies. Something for nothing.
The dow jumped the last time, and will again, not because Oshitforbrains is in charge. Its his, and Bushys policy of providing corporate welfare. Not welfare in the sense of taxes. In the form of direct cash payments via TARP 12 and QE5000.
As long as congress passes, and the president signs, more rubber checks the DOW and all other markets (including overseas) will go UP UP UP UP UP. At some point, and I don’t think it will be very long from now, the shit is going to hit the fan. And when it does, there is going to be hell to pay.
You see China quit bailing us out 2 years ago. Brazil is generally off the boat. The Swiss have loaned us a little but they’ve got that euro thing going right now. Japan and Taiwan just don’t have any more money (We aren’t buying there electronics anymore. Think Circuit City and soon to follow Best Buy). Great Britain is praying that Germany doesn’t hit the shit bailing out Greece, Spain and Italy. Russia will buy for a little longer, so long as we don’t keep pumping oil.
So, you see, Obuttfuckbrainbushysidekickmrimahalfabagoffuckingchips doesn’t have 4 years. I’d put money on 1 year at most. But I will hedge my bets with two absolute max. All the QE in the world isn’t going to help you when the piper comes a callin. He’s gonna take all your kiddies and their toys and say “bye”.
Have a Great Day!! There won’t be many left with Odumbass in charge.
Frank Pytel :)
Oh yeah. Watch the unemployment numbers next week.
Have a Great Day!! There won’t be many left with Odumbass in charge.
Frank Pytel :)
Unemployment should go up next week because of Sandy. The reports said that today. People who are out of work because of the storm are entitled to unemployment benefits. There was a significant temporary uptick in unemployment after Katrina as well. What don’t you people get about that.
You believe anything lie Faux tells you. Like Obamaphones
VOTE WITH YOUR WALLET…The media, with its LIES has KILLED Democracy…
(MarketWatch) Why Stocks May Keep Falling: ‘The Sugar High Will End’
“Investors cast their own vote on the presidential race Wednesday, and the result was (an Anti-Obama) landslide rout that could have lasting repercussions beyond Tuesday’s results.”
Let it FALL, Let it fall Let it fall….And let Obama, and his F*(&^n Dolts ANSWER FOR IT..
It has just begun…the EARNERS will back out…and let the media have their IDIOT…and explain why he has CRAsHED our country…
We aid and abeit by supporting their leftwing hate and failure…
We’re on our on…They’ll be too many of us to came after…
“The people didn’t vote the way I wanted them to, so obviously there’s no other conclusion to be drawn other than that DEMOCRACY IS DEAD!”
Oh man, you’re a real fucking tool.
Big(o)T, why do you hate America? Why isn’t America good enough for you when you don’t see eye to eye with your fellow Americans?
You’re doing the same stuff BigT that led you astray before.
I think your credibility has been long shot on this board, but if you want to salvage some respect, quit with the propaganda.
You might want to get that bipolar thing checked out.
I tell you what, BigT. You an move to another country, but the one you’re probably going to choose has way more socialism than this one.
Big-T you aren’t saying anything the Republican House has not said for the last four years. If the country will not let us run the show, then let America burn, so we can blame it on Obama.
The sooner the public understands that these people want power and they are willing to hurt the country to get it, the sooner the Republican party will be forced to get rid of the nuts and get back to job of making this country work for everyone.
You guys should hook up.
Heh Heh, heh heh heeeeeee, damn, ya’ll is in for a world of hurt down there. If I were alive I’d load up the truck and move to Colorado
I’m no economist, but I think these companies were planning on not paying taxes under Romney and counted their chickens before they hatched.
The Republicans have spent the last four years doing nothing but trying to make sure Obama didn’t get reelected at the expense of this country’s middle class … they failed. What will they do now?
As for the stock market, my 401K looks a hell of a lot better now than it did when George Bush left office.
BS. There two sides of the same coin. No difference between the Repulicrats and the Demlicans.
Have a Great Day!! There won’t be many left with Odumbass in charge.
Frank Pytel :)
The markets are global.
For the dumbfucks in the audience, that means there is more to the economic world than who is President of the US.
lol, your commentary is so funny sometimes and much of the time accurate.
Obama bit if off…now CHOKE on it…along with the Stupid Sons of B!*ches who voted for that Ignorant Bastard…..