Posted on 11/05/2008 10:46:47 AM PST by truthandlife
A case of post-election nerves sent stocks lower Wednesday as investors began questioning what impact a Barack Obama presidency will have on business and the overall economy. The Dow Jones industrials fell more than 300 points and the major indexes all fell more than 3 percent.
Stocks fell initially as investors cashed in gains after a six-day run that lifted the Standard & Poor's 500 index more than 18 percent. The selling picked up momentum as the market began to ponder what an Obama administration might do.
"A lot of the policy going forward is going to have an effect on the various sectors of the market," said Joe Keetle, senior wealth manager for Dawson Wealth Management.
Obama's victory means that industries such as oil and gas producers, utilities and pharmaceuticals may face greater regulation and even taxes, while labor unions and automakers are expected to benefit.
In addition, banks, insurance companies, hedge funds and the rest of the financial sector will almost certainly face attempts at a regulatory overhaul by the Democratic Congress next year.
(Excerpt) Read more at biz.yahoo.com ...
Wake up and smell the coffee, fools.
Wow, surprising headline from American Pravda.
I intend to be gracious and sympathetic to any Obama voter who loses their job, loses their 401K, pays more in energy, has to pay more in taxes ...
I intend to congratulate them on the vote for “hope” and “change” ... and encourage them to grow up and grow a brain.
Folks just cashing-out their 401k holdings before the Democrats confiscate tax deferred retirement accounts.
Cool! Our first blame OB story! Hope it goes down a few hundred more! It’s just the beginning of what this will cost us.
No kidding. I clicked through as I wanted to see the "real" headline...amazing...
All you folks who voted for Hussein....How’s your 401K this morning?
It takes your funds out of a declining market and prevents the socialization of your PRIVATE retirement by Congressional Democrats.
LOL...I did the same.
9,332.18 down -293.10 -3.05%
I hope it drops like a rock!.....
Not really. They now have 1 1/2 years in which they can pretend to be non-partisan.
Wait till they finish “pondering”...
11/5/08-or it it will be called : The Good Old Days”.
Wait till they finish “pondering”...
11/5/08-or as it will be called : The Good Old Days”.
Folks just cashing-out their 401k holdings before the Democrats confiscate tax deferred retirement accounts.
Just transferring them to Switzerland....
That reporter will be sent to re-education camps first thing in the morning....................
Crap! That reminds me I need to place a sell order...
Be careful what you wish for...you may not like the outcome.
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