Markets Not Too Happy About Obama Reelection

Markets tumble in week since Obama's reelection

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Wall Street opened today with the Dow Jones industrial average down 61 points at 12,480 as of 10:05 A.M. ET. The Standard & Poor’s 500 index was down five points at 1,348.73. The Nasdaq composite was down 14 points at 2,823, according to AP.

All metrics of measuring the stock market reflect the increasing skepticism that has shrouded the U.S. economy since Obama’s reelection:

The Dow Jones Industrial Average Is Down 541 Points Since The Election, Lowest Since June 26.  “The day after the election, the Dow Jones Industrial Average dropped 313 points. The decline has continued for a total 541 point (4.13%) drop, putting it at its lowest level since June 26.” (Sarah Tanksalvava, “Post election week brings economic woes, controversies,” Washington Examiner, 11/15/12)

(Currently down 738 points, 11/7-Now)

S & P 500 Is Down 59 Points Since The Election, Lowest Since July 25. “Likewise, the S&P 500 has dropped by 59 points (4.15%) since the election, to its lowest level since July 25.” (Sarah Tanksalvava, “Post election week brings economic woes, controversies,” Washington Examiner, 11/15/12)

 

(Currently down 71 points, 11/7-Now)

Nasdaq Is Down 175 Points Since The Election.  (Google Finance, Google.com, Accessed 11/16/12)

 

(Currently down 198 points, 11/7-Now)

The stock market surged leading up to Election Day when the possibility remained of a victory by Republican nominee Governor Mitt Romney. However, only hours after the last networks called the battleground state of Ohio in the President’s electoral column, investors on November 7 to began to dump their stocks wholesale.

Wall Street remains skeptical in the near-term of President Obama’s negotiating powers resulting from the debt ceiling talks of 2011.

Another factor in Wall Street’s uncertainty: Jobless Claims Rose By 78,000 In First Post-Election Report.  (Sarah Tanksalvava, “Post election week brings economic woes, controversies,” Washington Examiner, 11/15/12)