Well although the media isn't going to say this, the Dow has nosedived more since the Obama election than anytime in its history after an election and now it is becoming apparent that the factor of an Obama win may have had more to do with the stock market crash than any other one single factor.
Wall Street hit levels not seen since 2003,
with the Dow Jones industrial average falling below the 8,000 mark, as
the fate of Detroit's Big Three automakers and the economy disheartened
investors.
Stocks finished at their lows of the session after the
automakers pleaded for relief during a second day of hearings in
Washington. The heads of General Motors Ford and Chrysler are asking
for a massive infusion of cash to prevent millions of layoffs and stave
off bankruptcy.
Investors were discouraged by the Fed's
sharply lowered projection for economic activity this year and next.
Economic worries caused across-the-board selling, with financial stocks
particularly hard hit.
The Dow finished down nearly 430 points at the 7,990 level.