Biggest Drop In U.S. History On Election News: Stock Market Plunges In Face Of Obama Presidency
Off to a great start…face it, if there was some measurable enthusiasm on Wall Street, you would seen it in some capacity, however slight. Remember that day last week when the market went up about 900? Well, most of that was wiped out the day after The One won. Volatility swept over the market , with the Dow Jones industrials falling nearly 500 points and all the major indexes tumbling more than 5 percent.
Nov. 5 (Bloomberg) — The stock market posted its biggest plunge ever following a presidential election.
Stocks extended their retreat even as Nancy Pelosi, Speaker of the House of Representatives, said Democrats may seek two economic stimulus measures if President George W. Bush limits the size of a plan to be considered during the post-election “lame- duck” session. Obama’s party captured at least 19 seats in the House and at least five in the Senate, expanding its congressional majority.
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