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Obama's Election Petrifies Markets and Business

I've already written about markets and business being fearful of a Barack Obama presidency. Well, we saw further proof of this in the two days following his election.

Remember that stocks measure future performance. The Dow Jones, Nasdaq, and the S&P fell by over five percent each on the Wednesday following Obama's victory, the most they had fallen after an election in history. By the end of the week, they had fallen more than seven percent each, also a record-breaker for the Dow Jones and the S&P.

No one better determines the prospect of market and business success than the people who put their money where their mouth is. And, with Obama now confirmed as president, our economic future is not looking so hot.

Posted on Sun, November 9, 2008 at 06:28PM by Registered CommenterPaul Ibrahim in , , , | Comments2 Comments

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Reader Comments (2)

Good job! I'm impressed with your understanding and common sense. You are now on my favorites list!

Mon, November 10, 2008 at 10:38AM | Unregistered CommenterTom Shupper

Seems like you wound up thinking with unusual clarity. Congrats, welcome and may you have every success.

Mon, November 10, 2008 at 06:22PM | Unregistered CommenterRob

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