NEW YORK (AP) -- A case of postelection nerves sent Wall Street plunging Wednesday as investors absorbed a stream of bad economic news and wondered how a Barack Obama presidency will help the country weather a possibly severe recession. Volatility returned to the market, with the Dow Jones industrials falling nearly 500 points and all the major indexes tumbling more than 5 percent.Hope some of the more left wing commentors on this blog don't own stocks as it may cost em. Fortunately I saw this coming and am heavily into CDs.
The market was expected to give back some gains after a six-day runup that lifted the Standard & Poor's 500 index more than 18 percent. But investors lost their recent confidence about the economy and began dumping stocks again; light volume helped exaggerate the price swings.
Wednesday, November 05, 2008
Stocks Plunge as Anxious Investors Ponder Impact of Obama Presidency
Whatever they sensed yesterday is gone as reality has set in...
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment