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 ...
BO the TerrorCrat couldn't have been more outspoken and clear what he intends for coal-fueled power plants. Anyone connected to coal had better be updating their resumes.
While I wish no harm to those hard working Americans who had no part in installing this socialist as president, it would please me to no end to see 0bama supporters lose their financial ass in the coming four years.
May they reap what they’ve sown.
Probably a good time to get into the job of “government regulator” and “regulatory compliance expert”. Both of which get rewarded for looking the other way.
EXPECT a 20% shrinkage in our economy.
Mark my words on that.
The Obomination is an anti-capitalist.
Fools can welcome the change their ignorance and the MSM wrought just like the Germans welcomed Hitler and Castro’s change. When the Gestapo comes knocking, their ignorant Liberal shock will be as laughable as the grim reaper. Celebrate now; lament later as your freedoms erode into slavery.
I don’t!
Here’s something to add to your nightmares: just like Bill and Hillary, guess who will be talked about as the first woman president some time in the future?
Just got off the phone with one of my ‘financial’ advisors, she confirmed much of what we are seeing today is due to a very, very spooked market. Point of interest...she did not try to stop me or assure me as in the past. Neither did the other brokerage house...
I’m out.
He will just blame it on “the policies of the last 8 years.”
Buckle Up! Here comes CHANGE WE CAN COUNT ON!
It’s NOT going to be a Presidency. It’s going to be a thugocracy!
Fresh lows here at 2pm, Nasquack hit especially hard. AAPL gives up 2 days of gains.
Stocks?? We dont need those. Democrats are talking about replacing 401Ks with SS type government IOUs.
Well, America — This is what you wanted. Congratulations and I HOPE enjoy your CHANGE!
“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 ...”
That’s right, because as His Eminence, Lord Obama said, “spreading the wealth around is good for everyone.”
The (forever more to be nameless) pres. elect "bounce" showing a positive state of mind for the overall economy flat fell down the stairs. Now down over 300 points and still dropping.
So...we have the "winner's" effect on the market before our eyes. Maybe the market knows what a liar the nameless one really is!
I work in the local natural resources policy area and also in the social services policy area. (They are connected in rural areas. Because of regulations, the more reliant on natural resources, the more impoverished the community.) I am dreading the next four years and its aftemath on natural resources. Believe me, the Greenies will be pumped on steroids, regulating to their heart’s content. It will be HELL trying to keep alive our small family farms, ranches, struggling remnant local timber mills and gold miners. On the other hand, we should see funding hand over fist for social service programs of every ilk. That will be good, because the Foundations that generally fund them are largely dependent on investments, which will have declined tremendously in an Obama administration.
It’s just starting to sink in. Change- I get it, what’s left of my 401K - $.87 of Change. Brother can you spare a Lexus?
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