(Reuters) - A spree of bad news -- market gyrations, fears of a double-dip recession, stubborn unemployment and fallout from a debt deal -- has shaken confidence in President Barack Obama's leadership and could cloud his chances for winning re-election. Obama is seeking a second term in office in an election that is still far off -- November 2012. But a persistently weak economy coupled with rising perception of political dysfunction in Washington could complicate his political fortunes.