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Post Election Blues: Stocks Plunge 200 Points At Opening

CNBC: Stocks opened sharply lower Wednesday in the wake of President Barack Obama's re-election, triggered by worries over the looming "fiscal cliff" and as fears over Europe resurfaced.

“I don’t think there’s a long-term market reaction to the presidential election itself—it’s now how quickly we can focus on the ‘fiscal cliff’ and coming up with a resolution,” said Art Hogan, managing director of Lazard Capital Markets.

Read more: http://www.cnbc.com/id/49725783

Charts: www.bigcharts.com



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"The Second Coming" by Yeats

Enjoy this chilling poem

Turning and turning in the widening gyre
The falcon cannot hear the falconer;
Things fall apart; the centre cannot hold;
Mere anarchy is loosed upon the world,
The blood-dimmed tide is loosed, and everywhere
The ceremony of innocence is drowned;
The best lack all conviction, while the worst
Are full of passionate intensity.
Surely some revelation is at hand;
Surely the Second Coming is at hand.
The Second Coming! Hardly are those words out
When a vast image out of Spritus Mundi
Troubles my sight: somewhere in the sands of the desert
A shape with lion body and the head of a man,
A gaze blank and pitiless as the sun,
Is moving its slow thighs, while all about it
Reel shadows of the indignant desert birds.
The darkness drops again; but now I know
That twenty centuries of stony sleep
were vexed to nightmare by a rocking cradle,
And what rough beast, its hour come round at last,
Slouches towards Bethlehem to be born?

"This isn't what the govern meant"

"Win the crowd and you will win your freedom"

Whats next for businesses and

Whats next for businesses and the economy? Who really knows

http://www.dailyjobcuts.com
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"The best is yet to come" ~

"The best is yet to come"

~ Barack Obama 11/6/2012

I bet it is. Can't wait.

Only for those who fail to

Only for those who fail to prepare will suffer... Silver, gold and land you grow your own food on.

Good luck to all of you.

the "fiscal cliff" is not the dollar crisis coming

We all know the solution to a descending stock market is an early telephone call to Ben Bernacke and turn on the printing machine. A little dollar devaluation goes a long way to make the market number look higher...

Price the Dow in ounces of gold not dollars and see the real change over the next 4 months.

In '08 I think the market fell 550 + points on the new that Obama won. Maybe he will break his own record. Reminder the "fiscal cliff" is not the dollar crisis coming....

The real hits come late '13 when the 5 year TIPS issued in 08 bailouts and again the 5 years TIPS issued in 2010 for TALF

"This isn't what the govern meant"

"Win the crowd and you will win your freedom"

I actually am starting to believe

some of the rich people out there that have proclaimed that they will be leaving the country now that Obama has 4 more years. They know what's coming.

330 points down at this point.

Places they are headed

Australia, Singapore, Malaysia, Sweden, Switzerland, Hong Kong, hell even Canada because at least they save.

Yes, I heard doctors are leaving

I read somewhere that top doctors are leaving the US. Something like 10,000 top doctors have left since 2010...Quality doctors can work anywhere and there services are needed anywhere.

"This isn't what the govern meant"

"Win the crowd and you will win your freedom"

Probably to Europe so they

Probably to Europe so they can continue research on Stem cell, because the U.S. policies are so restricting.

SteveMT's picture

Biggest stock market Drop In A Year; DOW -323; lipstick please

Dow Jones Industrial Average Celebrates "Four More Years" With Biggest Drop In A Year
11-7-12
http://www.zerohedge.com/news/2012-11-07/dow-jones-industria...

This is Wall-Street giving Obama a quick reminder

That if he doesn't return the favor of their campaign bribes...they can make things happen in a hurry. Either way the banksters win. If the FED doesn't start putting millions into the accounts of donors...the markets will keep dropping...until they will require a TBTF bailout.

Don't look too much into this

I think this is more of a reaction to Europe and worries over the "fiscal cliff" since we still have divided government, rather than worry over Obama. The stock market and the financial/medicinal/energy/insurance giants love Obama because of his regulations, "stimulus", subsidies, and support of QE. The easing would probably have continued under Romney, but it is DEFINITELY continuing under Obama.

Ultimately, that leads to more cheap credit and more artificial increases in the stock market to give off the illusion of wealth. These industrial giants hate competition and love more QE, and ultimately they knew that a lot more is coming now. However, like all bubbles...they burst.

Higher taxes, economic uncertainty, more regulation ...

... more government spending, and a takeover of healthcare, oil, and any other industry a communist can take over.

The market is probably realizing higher capital gains and dividends taxes are coming very soon -- and participants are getting OUT.

Sure, the Fed will print more money and that does have an influence, but at some point that, too, will be a negative. For now, I think the market is focused on getting out before higher taxes kick in. That plus continued uncertainty due to government whim being unknown.

The Vix is only at $18.20 and some change

The Vix is the fear in the market and for me 300 point drop is fear but I guess we will have to wait until the fiscal cliff to get some fear in this controlled market. Anyone else that understands this VIX please explain why the VIX hasn't popped up yet.

VIX

The VIX is a relative indicator, not an absolute one.

VIX is up sharply today (VIX up is bearish; VIX down is bullish).

This market is headed lower.

SteveMT's picture

DOW is down 285.

This is starting to look serious. Where is that PPT?

I foresee people moving to

I foresee people moving to right to work states and out of the rust belt like after the first meltdown. Gold is going back up this morning too :)

Southern Agrarian