In response to newenglanderinexile's comment:
In response to TFB12's comment:
[QUOTE]Wall Street drops more than 2 percent
NEW YORK (Reuters) - U.S. stocks extended losses, with all three major stock indexes dropping more than 2 percent and the S&P 500 falling below 1,400 for the first time since September 4 on Wednesday, a day after the re-election of President Barack Obama, as comments by European Central Bank President Mario Draghi weighed on sentiment.
The Dow Jones industrial average was down 292.25 points, or 2.21 percent, at 12,953.43. The Standard & Poor's 500 Index was down 31.18 points, or 2.18 percent, at 1,397.21. The Nasdaq Composite Index was down 69.60 points, or 2.31 percent, at 2,942.33.
I understand the stock market tends to fluctuate, sometimes going down, sometimes going up, and that what happens on a particular day is not all that important. I heard somewhere that the markets are up pretty solidly for the year.
[/QUOTE] there's fear in the market now of the euro dropping, Germany has overlent trying to keep greece afloat, Draghis' comments started the markets in Europe to go down causing a ripple effect here. Yes , it was expected that the market would be down today especially banks who had hope Romney's election would ease regulation (but cost us more money). some will see this as an opportunity to buy short, others a chance to grab some stocks at a better price. Lets see what happens in the next few days before overeacting . simplistic analysis, i know but just juast as good as "Thanks Obama" So much going on right now and don't forget the fiscal cliff.