By binge drinking their sorrows away:
NEW YORK — Wall Street greeted a second Obama term the way it greeted the first.
Investors dumped stocks Wednesday in the sharpest sell-off of the year. With the election only hours behind them, they focused on big problems ahead in Washington and across the Atlantic Ocean.
Frantic selling recalled the days after Obama’s first victory, as the financial crisis raged and stocks spiraled downward.
It was the worst day for stocks this year, but not the worst after an election. That distinction belongs to 2008, when Barack Obama was elected at the depths of the financial crisis. The Dow fell 486 points the next day.
Tipped by wits0, via FireAndreaMitchell: 45 companies announce layoff plans in 48 hours following Obama’s ‘victory’.
From MSN Money:
Yep, credit must go to Obama… The allergic reaction to his second term is nowhere near as bad as it was to his first term:
Plus plenty more at the link, stretching up to 2 weeks (and 1628 points down) from his first Election win.
See also related:
Obama’s Economic Successes: A Roundup – Dozens of graphs showing just why the markets don’t trust Obama