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Post-Election Retreat: Dow
Plummets Below 13K for First
Time in 2 Months

Fox Business Network, by Adam Samson

Original Article

Posted By:KarenJ1, 11/7/2012 11:57:13 AM

Equities, commodities and other risky assets tumbled on Wednesday after U.S. elections left Washington, D.C. as sharply divided as before as the fiscal cliff looms large. Today's Markets As of 11:10 a.m. ET, the Dow Jones Industrial Average slumped 291 points, or 2.2%, to 12955, the S&P 500 slid 31.3 points, or 2.2%, to 1397 and the Nasdaq Composite fell 66.9 points, or 2.2%, to 2945. The Dow fell below the 13000 mark for the first time in intraday trading since early September. If the blue-chip average closes below that mark on the day, it will be the

Comments:
I'm desperately looking for some good news this morning. I haven't found any yet.

      


Post Reply  

Reply 1 - Posted by: michellewsc2, 11/7/2012 11:59:26 AM     (No. 8996467)

...I'm afraid you'll be looking for a very long time

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Reply 2 - Posted by: bassman, 11/7/2012 12:01:15 PM     (No. 8996476)

The only good news is that Obama will be gone in 4 years.

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Reply 3 - Posted by: steveracer, 11/7/2012 12:07:53 PM     (No. 8996504)

I continue to be amazed at the size of the hole George Bush put us in. Truly amazed.

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Reply 4 - Posted by: SouthSanAntonio, 11/7/2012 12:15:18 PM     (No. 8996551)

To complete #2's post:

The good news is that NØbama will be gone in 4 years.

The bad news is that he will be followed by 8 years of PIAPS or Cuomo.

Let's face it, if the Republicans couldn't beat the worst president in the history of the USA last night, we aren't ever going to win another presidential election.

Yesterday, 50% of the population voted for more government control of our lives, and more cool ''free stuff''. Just wait for 4 more years of many more people getting used to that setup, and the future of this once-great republic looks like the once great republics of France and Greece.

Maybe NØbamacare will at least give those of us that still work some Vaseline for the reaming that we are about to take!!!

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Reply 5 - Posted by: charliecoconut, 11/7/2012 12:15:35 PM     (No. 8996553)

You ain't seen nothing yet, wait till you see the small businesses closing and the capital sucked out of the system. Your taxes will necessarily skyrocket.

Your bills will skyrocket, your insurance will skyrocket, and there are lots of other skyrockets coming...



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Reply 6 - Posted by: michellewsc2, 11/7/2012 12:16:00 PM     (No. 8996554)

I'm sure it'll go back up by closing.

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Reply 7 - Posted by: secondtimelucky, 11/7/2012 12:16:33 PM     (No. 8996556)

the Dow level is totally understandable and right on schedule...

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Reply 8 - Posted by: Norwegian Goddess, 11/7/2012 12:17:34 PM     (No. 8996562)

Soros better spend a bunch of money on stocks today so his boy will look good.


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Reply 9 - Posted by: gesundheit, 11/7/2012 12:25:11 PM     (No. 8996589)

To put today's post-Obama-victory market collapse in perspective:

The annual interest on 10-year U.S. Treasury bills is currently 1.63%. And the DOW has fallen 2.37% so far in a SINGLE DAY.

The only investors who are getting rich are those who have sold American stocks short. And what can our newly re-elected president do to prevent further short-selling and a further market collapse? Nothing. He can't even resign, since Joe Biden would be even worse than he is.

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Reply 10 - Posted by: cinwasp, 11/7/2012 12:34:25 PM     (No. 8996631)

thank you #2

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Reply 11 - Posted by: LadyHen, 11/7/2012 12:36:05 PM     (No. 8996639)

Yep #4... just what we see too.

American exceptionalism and it's hard work ethic has finally been beaten and smashed by the takers and entitlement class. The minorities, the unions, the young, and the single women want what they want and don't care what it does to this once great nation to get it.

All that is left is for the corrupt politicians in both parties to fight over who can cut up the Old Gal and hand her out to selfish horde fastest.

The golden goose has been plucked and cooked folks... and now the slathering horde will eat her up, even the bones.

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Reply 12 - Posted by: country boy, 11/7/2012 12:41:34 PM     (No. 8996663)

#2 & #10, you're dreaming.

Look, the constitution is flawed. obama has told us so. Unless the Joint Chiefs takes him out in shackles, he'll be with us for the duration.`

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Reply 13 - Posted by: get er done, 11/7/2012 12:47:52 PM     (No. 8996700)

The financial markets would have reacted in the opposite manner if Romney had won the election. Barack can man up and take responsibility for the mess. There is no blaming Bush for the markets tumbling upon news of Obama's reelection.

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Reply 14 - Posted by: mackrand, 11/7/2012 12:50:46 PM     (No. 8996712)

I sure hope Obama is fully invested.

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Reply 15 - Posted by: Mr. Know-It-All, 11/7/2012 1:08:11 PM     (No. 8996793)

Where can I find this John Galt fellow?

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Reply 16 - Posted by: donttreadonme, 11/7/2012 2:16:13 PM     (No. 8997054)

Not suprised at all. Who would be interested in running a business now?

About 2 months ago, I ran into a high school friend who is a branch manager of a bank. He told me he his branch alone has up to 60 million dollars to loan to businesses. However no businesses were wanting loans.
I'm sure nothing has changed.

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Reply 17 - Posted by: Mushroom, 11/7/2012 2:28:48 PM     (No. 8997083)

Stack Market falls , locally gas is up 12% overnight when the analysts are saying it should be falling...I wonder what the common denominator is?

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