Largest Post Election Dow Point Drop in U.S. History

On Air... | 11/06/08 | Limbaugh

[DoughtyOne]

The current two day drop of the DJIA figure is the largest post election crash in U.S. History.

The DJIA figure was off 915.92 a few minutes ago, that's 9.5% since Obama became President elect.

Pundits who just days ago were saying that U.S. Citizens had more faith in Obama when it related to the economy are now having to hurriedly work up stories reassuring the public that this drop isn't related to public fear that Obama is not up to the task of managing the current economic problems.

[jmj3jude]

I agree, I have also been seriously considering withdrawing my 401K and cash it out. I know I'll take a 35% hit, but a least it will be my money and not the government's.

[RoseofTexas]

WHOA NELLY...or should I say WOE! DOW down 455 as I write this....IT'S OsAMA'S FAULT!!!

Hey anyone can play that game too! From now on USA will be known to me as the USSA...Those that vote for the muslim messiah DO NOT deserve this country or the GOD that founded this nation!

[pineybill]

Just wait until the Global Warming fascists favorite program, cap and trade, kicks in. Higher energy prices, a further reduction in consumer demand, more layoffs and unemployment (which will somewhat be offset by Chairman Obama’s federal government “green jobs”). Then consider the increase in capital gains taxes, end of the Bush tax cuts. Can you say Dow 5000?

[TenthAmendmentChampion]

Related:

6 Worst % Dow Declines
2008 -5.05 Barack Obama
1932 -4.51 Franklin Roosevelt
1948 -3.85 Harry Truman
1940 -2.39 Franklin Roosevelt
1976 -0.99 James Carter
1992 -0.91 William Clinton

6 Best % Dow Gains
1896 +4.54 William McKinley
1900 +3.33 William McKinley
1908 +2.38 William Taft
1936 +2.26 Franklin Roosevelt
1912 +1.83 Woodrow Wilson
1980 +1.70 Ronald Reagan

[Nailbiter]

“I have been seriously considering withdrawing my 401k. I’m sure there are others thinking the same.”

I was thinking along same lines but I am in for long term.

I believe if you withdraw 401k, there is 10% penalty, then taxes would be about 35%.

I asked fin advisor, seems that would be a wash to riding out storm and losing all or losing most by with drawing.

Barring total collapse which is possibility, in which case will not matter.
Or riding the stock market I will probably ride and go gray( already happening) or go bald which is also possibility

[RoseofTexas]

Yikes! DROPPING LIKE A FREAKIN ROCK!! 481

[meyer]

What the he!! did they expect - we just elected a communist with liberal majorities in the house and senate that wish to steal people's retirement savings, gut our nation's energy production, nationalize banking, nationalize health care, force union membership on businesses, and regulate freedom out of existence.

Atlas is shrugging in slow motion.

Buy ammo.

[Fred]

Here is one of the big factors as to why the dump is taking place in the market

NFP (Non-Rarm Payroll) release on Nov 7th expected to show US Economy lost 200k jobs link

No earnings, no profit, no stock increase. Obozo's plans to force unionization, protectionism, raise taxes will push all of us right off the cliff. Right now we are clinging to the edge.

[RoseofTexas]

My hubby WILL NOT be a happy camper when he gets home....woozer!

[DoughtyOne]

Thank you.

[Fred]

Lets see if Obummer’s admin suspenses the 10% fine for early withdrawal and allow about $50k and this is a big and not required to pay taxes on the withdrawn amount.

Am paying close attention to this one, seriously, doubt the big liar will come thru.

[DaltonNC]

Please remember in 2012 to ask yourself “Am I better off today than I was 11-4-2008?”

You think we are behind today, just wait, you will see what behind really looks like.

God help us!!

[MassachusettsConservative]

It’s called Buyers Remorse! We should have a 3 day waiting period after the vote to change your mind like the law allows when you sign a contract to purchase anything while at home which allows the buyer to cancel the contract anytime during the following 3 days. We might have a different president-elect if that was the case.

[meyer]

What investors are reacting to are the earnings and other announcements.

BS - what investors are reacting to is that light is finally being shed on all the changes that Obama and the 'Rats want to impose on this once-free society. The media did a wonderful job of keeping the Obama illusion positive. Now, people are starting to learn what's about to happen and they are reacting.

[TenthAmendmentChampion]

I wish the election had gone the other way. But now Atlas is bound to Shrug.

[spokeshave]

Looks like it will close at 8666 today.

[calenel]

“Silly me, I thought the downturn was due to several dreadful earnings reports that were released Monday and the jobs report due out tomorrow showing a net loss of 200,000 jobs for October.”

If Monday’s news was a factor then why did it go up a big chunk on Tuesday? To me it seems that Monday’s news would have been factored in before Wednesday.

[areukiddingme1]

Are you...John Gault?

[meyer]

On Fox news, Sheps show, they are doing all they can to pretend all this has nothing to do with a marxist getting elected.

This is surprising coming from Shwepp. After all, he was about as giddy as the drones in the rest of the mainstream media when Obambi was running.

[jmj3jude]

I agree with you. I am really afraid, and I am not one who is prone to fear. I have been an investor for a long time. I also took a risk and put more money into the market prior to the election, because I thought no way would this idiot get into the White House. I normally would take this time to invest more, when you see blood in the streets and all. But I won't, I really think we are seeing the signs of a depression coming.