They are reacting to the payroll numbers, looks like the report shows 200,000 jobs down, announces tomorrow. This is a is a leading indicator as to how long and severe the recession will be.
The payroll numbers are down - the entire economy is down and falling specifically because of the democrats. The market already reflected the anticipated recession. Seeing Obama and the democrat's proposals ensures that it will be longer and deeper than had been anticipated.
Thinking that this major election has nothing to do with the DOW is just wrong. One would have to be blind to not see how bleak the economic outlook is for this country with the left in such a potent position.