The market was down almost 400 points BEFORE the vote was taken. The markets HAD fallen anyway. The Asian and European markets went down before the vote, also. Were all those people selling because they knew that the bill would fail hours before the actual vote? No - they were giving the market their ideas of its real value.
“Were all those people selling because they knew that the bill would fail hours before the actual vote? “
Actually, yes. Boehner had given indications in the morning that it was in trouble potentially. Had it passed there would have been a relief rally.
The foreign markets were down on Fortis failing, and we had that Wachovia take under.
Wake up folks, banks are falling like bowling pins and people think its ok to be blithe to the crisis.