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Stocks Skid 2%; Dow Dives 300, S&P Below 1400
CNBC ^ | 11/7/12 | JeeYeon Park

Posted on 11/07/2012 8:37:31 AM PST by madison10

Stocks took a sharp nosedive across the board Wednesday in the wake of President Barack Obama's re-election, triggered by worries over the looming "fiscal cliff" and as fears over Europe's economy reemerged.

The Dow fell below 13,000, while the S&P 500 traded under 1,400 for the first time since early September...

(Excerpt) Read more at cnbc.com ...


TOPICS: Business/Economy; News/Current Events
KEYWORDS: finance; freefall; stocks
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To: madison10

It’s Recovery Fall.


101 posted on 11/07/2012 2:20:17 PM PST by Charles Henrickson (WHEEEEEEEEE!!!!!!!)
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To: madison10

That sure didn’t take long.

They hardly got done counting the votes.

And it’s just the beginning, sad to say.


102 posted on 11/07/2012 2:21:55 PM PST by metmom (For freedom Christ has set us free; stand firm therefore & do not submit again to a yoke of slavery)
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To: madison10
Companies are not worried about the “fiscal cliff”, they are worried about how much Obamacare is going to cost them and whether it's worth staying here in America.
103 posted on 11/07/2012 2:23:06 PM PST by tobyhill
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To: Morgana

It might keep sliding, a death spiral. The dollar slid too, last night.

Wait until all those defense contractors start massive layoffs.


104 posted on 11/07/2012 2:25:36 PM PST by GeronL (http://asspos.blogspot.com)
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To: fivecatsandadog
Election Results

Obama's States: CA,WA, OR, NV, CO, NM, MN, WI, IL,IA, MI, OH, PA, VA, ME, NY, DE, RI, VT, NH, NJ, Washington, D.C., MD, MA, CT, HI. This map still shows FL as a toss up

So match-ups are: CA, CO, FL, DC, MI, IL, NM, MN, NY, WA.

Just for nostalgia's sake Romney/Ryan states are: TX, AL, AK, GA, SC, NC, WV, KY, TN, IN, ND, SD, MT, WY, UT, AZ, LA, MS, MO, OK, KS, NE, ID AND the FL toss-up.

105 posted on 11/07/2012 2:32:29 PM PST by madison10
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To: madison10

Attempted blackmail because the fascists and government cronyism didn’t get their way.


106 posted on 11/07/2012 3:24:11 PM PST by Varsity Flight (Extortion-Care is the Government Work-Camp: Arbeitsziehungslager)
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To: Varsity Flight

Attempted blackmail because the fascists and government cronyism didn’t get their way. and...

...if they keep this up, (along with their “reaching across the aisle” propaganda,) more of the core younger voters will continue to move toward Obama.


107 posted on 11/07/2012 3:31:59 PM PST by Varsity Flight (Extortion-Care is the Government Work-Camp: Arbeitsziehungslager)
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To: Grampa Dave

Also Smith & Wesson is up 9.62%.


108 posted on 11/07/2012 3:59:56 PM PST by Krosan
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To: madison10
We bought Smith and Wesson a few years ago when it was low, and it stayed low for the longest time, but has been on the upswing. My husband and I were wondering what would happen to the price of the stock if Obama was elected versus Romney. Got our answer today.

SWHC‎ - Smith & Wesson Holding Corporation (NASDAQ)‎
10.37 +0.91‎ (9.62%‎)
Nov 7 4:00pm ET - Disclaimer
Volume: 8,031,563
Avg Vol: 1,844,000

109 posted on 11/07/2012 4:04:50 PM PST by memyselfandi59
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To: AdamBomb
James River Coal down 24% Hope you coal people in Ohio and PA are happy...those of you who stayed home or voted for zero.

we will need to become more creative. If possible it would be cool to identify & email every employee a chart that shows their company stock price fall (since many probably don't even know what went down today).

110 posted on 11/07/2012 4:13:06 PM PST by plain talk
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To: Schatze
Wait till the Obozo voters see their 401Ks today.

... and do exactly what? Heck 10% unemployment didn't wake them up so you think a 3% drop in the market (if they follow it at all) will faze them? They are counting on Obama to deliver some sort of security and mental karma by stealing money from wealthy people. These people are democrats and by definition are irrational emotional types. When they do notice havoc they have been conditioned to blame you and me anyway.

111 posted on 11/07/2012 4:26:06 PM PST by plain talk
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To: Cheerio
THERE WAS MUCH MORE EXCITEMENT FOR MITTENS THAN THERE EVER WAS FOR McLAME.

There were more people excited for Mitt, but fewer in the "moderate support" category who would vote for him, but probably not show up at rally's, etc.

Why fewer?

Consider the food stamp recipient numbers. 17 million people more are on food stamps, now, than in 2007, I believe? A decent % of that 17 million are good, probably moderate to somewhat conservative people, who surely do not want to be on food stamps, but they have no good alternative. In principle, they might want to vote for Romney, but the hope of better jobs is too far out. They'll vote for the perception of whoever is offering the most assistance (or won't pull it) over the next several months.

Then consider all the other areas in which even working people with reasonably decent jobs have been maneuvered by the libs into circumstances where they depend on Gov't "help" of one kind or another. (The "help" itself is often the weapon the libs employ, to drive up costs of housing or education or health care, to name a few, to the point that average families can't afford those basic / should-be / not long ago were affordable necessities.)

This is the evil way that the socialists corrupt and bring under their political and economic control people who would not otherwise be so inclined to support them. If they only succeeded in doing this to a few percent of the electorate, in the last 4 years, that explains the result we see. We have, indeed, gone over the tipping point.

112 posted on 11/07/2012 4:44:12 PM PST by Paul R. (We are in a break in an Ice Age. A brief break at that...)
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To: plain talk
If you look at the red blue maps by county, almost the whole state of PA looks red, with just a few blue counties in the urban areas. I know my small town in Montgomery county went 385 for Mitt (54%) to 292 for Obama (41%) and 36 (5%) for others. Montgomery is too close to phila and always blue, and we (not me) went Obama in 2008 by 20 votes - 373 to 353. We saw the added enthusiasm, yard signs, etc. but in our small town I can pretty much guarantee there was no cheating. Two points I would draw from this:
1. Please do not blame the red parts of PA - we worked hard and wanted Obama out just as bad as you.
2. I have to agree with people who think this was stolen. What I saw in my town was the same anecdotal stuff everyone was reporting - and we got the win by margins we expected - I have no doubt there was massive fraud in the cities.
113 posted on 11/07/2012 4:54:46 PM PST by enumerated
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To: GeronL

“...It might keep sliding, a death spiral. The dollar slid too...”

Yep! I did my little teeny part to make that drop happen today too. Will try to do some more of it tomorrow as well. Also, diverted a shipment of basic essentials (blankets, canned goods, toilet paper, etc) that my wife had been putting together for NY/NJ storm relief. They don’t want coal, they don’t want to drill for oil/gas, constantly vote liberal, anti-American, hate guns, hate God....I say let em starve & freeze in the dark. Maybe their false messiah will wave his all-healing hand over their plight...or better yet, maybe that big gas-bag Crispy Creme will swoop in and help em with his own personal funds. Diverted that shipment to another more deserving charity right here closer to home. All in all, I had a pretty good day of it today. Maybe tomorrow will bring even more opportunities to stick it to the libs.


114 posted on 11/07/2012 4:55:39 PM PST by lgjhn23
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To: Cheerio; All

What I posted above, by the way, is much more insidious and evil than voter fraud. It is really a form of slavery, but for the most part it is legal, and often the “beneficiaries” don’t realize the magnitude of what they have lost. At least for a good while, anyway...

Voter fraud at least you have a chance of discovering, and applying legal actions to, fairly quickly.


115 posted on 11/07/2012 4:58:32 PM PST by Paul R. (We are in a break in an Ice Age. A brief break at that...)
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To: enumerated

What you say makes sense. I wonder if our side has any organized process for analyzing these results and exposing any fraud. If dems run these large cities then how can Republicans validate the results? I confess I don’t know how those things work


116 posted on 11/07/2012 5:02:35 PM PST by plain talk
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To: lgjhn23

bump


117 posted on 11/07/2012 5:08:37 PM PST by GeronL (http://asspos.blogspot.com)
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To: plain talk
What you say makes sense. I wonder if our side has any organized process for analyzing these results and exposing any fraud. If dems run these large cities then how can Republicans validate the results? I confess I don’t know how those things work

I don't REALLY know either, but surely a State Attorney General would have the resources to investigate voter fraud. So then you need maybe a couple of Pub State Attorney Generals in states that were close (preferably) to break it open.

But, I honestly think what has happened is far more insidious, damaging, and difficult to correct.

Consider Nevada. Nevada is a disaster, unemployment and housing market-wise. Obama dissed Las Vegas repeatedly, early on. Yet Nevada went big for Obama.

118 posted on 11/07/2012 5:19:51 PM PST by Paul R. (We are in a break in an Ice Age. A brief break at that...)
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To: madison10; All

While conservatives would like to blame this down-tick on the election results, the much larger story is coming out of:

a) Europe. The economic signs are that German’s economy is buckling under the sustained pressures. Spain, Italy and France are all indicating contraction of their economies as well. In short, Europe is headed rapidly into a recession, and it’s starting to look very ugly in terms of the speed at which it is developing.

b) Fitch’s is putting the US Treasury on notice that unless action is taken to avert the “fiscal cliff,” they’re going to downgrade US Treasury debt:

http://blogs.barrons.com/incomeinvesting/2012/11/07/fitch-warns-of-u-s-rating-downgrade-if-fiscal-cliff-isnt-averted/

c) Margin debt on the NYSE is at a 16 month high. If this selling gets going, there’s going to be a lot of margin calls or enforced selling of positions.

The net:net truth is that Wall Street needed to be cleaned out of hucksters and frauds in the last four years after the crash of ‘08, and that hasn’t happened. It most likely wasn’t going to happen under a Romney administration, either. The fiscal cliff issue wouldn’t have been dealt with by Romney, because the date at which the cliff arrives is 01 Jan 2013, not later. Europe is on Europe’s schedule, and their appointment with their doom is... oh, sometime in the next two quarters.

So please don’t conflate this particular market downtick with the election. As far as the market is concerned, there are much larger fish to fry.


119 posted on 11/07/2012 6:15:05 PM PST by NVDave
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To: madison10

The media will give the Benghazi treatment to any valid reports of corruption.

We are so screwed.


120 posted on 11/07/2012 6:19:14 PM PST by keats5 (Not all of us are hypnotized.)
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