Stocks have their worst drop of 2012; investors look past election to problems in US, Europe

  • Article by: The Associated Press , Associated Press
  • Updated: November 7, 2012 - 3:14 PM

Stocks are closing with their worst one-day loss of the year as investors look past the election and focus on big problems ahead in Washington and in Europe.

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pseudonymNov. 7, 12 3:18 PM

welcome to 4 more years

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godiveNov. 7, 12 3:23 PM

Past the election? part of this is a direct result of the election of obama again. Business sees the writing on the wall. We are all in for economic ruin in the next 4 years. Can you say on our way to 20+ trillion in debt by 2016

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dowdownNov. 7, 12 4:12 PM

With Obama in office for the 2nd term the only way to make money on the stock market is to sell America short.

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anderson245Nov. 7, 12 4:37 PM

Europe is suffering the fate of the failed conservative agenda of austerity and tax cuts for the wealthy. England and Italy's economies are shrinking, GDP is contracting, revenue to government is plummeting, deficit and debt are exploding, job losses are staggering. Yet the Republicans continue to try and force us down this failed path. Why?

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nimrod888Nov. 7, 12 4:51 PM

posted by: nderson245Nov. 7, 12 4:37 PM Europe is suffering the fate of the failed conservative agenda of austerity and tax cuts for the wealthy. England and Italy's economies are shrinking, GDP is contracting, revenue to government is plummeting, deficit and debt are exploding, job losses are staggering. Yet the Republicans continue to try and force us down this failed path. Why?..........................Obviously you voted for the pot amendment in Colorado. You cannot be serious with this post. A few facts to support your assertion would be helpful. Simply spewing forth lies may get one elected president, but at some point people need to ask for proof on these off the wall assertions. What happened in Greece and Spain my friend?, and what was the direct cause of those failures? The same policies we currently are putting in place here. Where will we come up with $20 trillion? Not enough "rich" people on the planet to cover that amount, let alone in America.

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PatitodehuleNov. 7, 12 6:25 PM

Yesterday Obama was reelected; today the Dow Jones fell 2.36%. Stocks must be down because Obama was reelected. That's an example of a logical fallacy called post hoc ergo propter hoc. Another tack is to blame the drop on "liberals" or "conservaives" whichever one considers a dirty word. Actually, my own diversified portfolio rose 0.7% today. Well, my experience is that if it's rising that fast it's in for a fall. And vice versa. An analyst I used to get advice from back in 2008 blamed the big drop at that time on lax regulation and predicted that it would not really recover until 2013. Well, she's been right on so far. I'll just hang on to my stuff until 2014 and then make some decisions.

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comment229Nov. 7, 12 6:38 PM

Apparently some of you have something to lose. Watch the stock market rebound tomorrow and here is your chance to buy low. Remember, the election is over so you can put the fox rhetoric of doom and gloom away. This country needs to pull together and compromise. So far, the only hint of that has come from Boehner; the operative word being "hint." Some of you are going to have an awful long four years. I got out of the stock market 15 years ago now, and it had nothing to do with Obama and yes, I will give you the standard advice.... if you can't afford to lose it, don't get in the stock market.

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drfranktNov. 7, 12 7:42 PM

When the taxpayers of this country start feeling the big obamacare pinch and the economy continues to decline while inflation begins to increase and the terrorists continue thier attacks, will the "new" (2012-2016) obama administration blame the previous administration (2008-2012), or will it still be GW Bush, the Tea Party, The House, The Arab Spring, The Tsunami, et. al.?

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anderson245Nov. 7, 12 8:51 PM

posted by nimrod888 "posted by "anderson245 "Europe is suffering the fate of the failed conservative agenda of austerity and tax cuts for the wealthy. England and Italy's economies are shrinking, GDP is contracting, revenue to government is plummeting, deficit and debt are exploding, job losses are staggering. Yet the Republicans continue to try and force us down this failed path. Why?..........................Obviously you voted for the pot amendment in Colorado. You cannot be serious with this post. A few facts to support your assertion would be helpful. Simply spewing forth lies may get one elected president, but at some point people need to ask for proof on these off the wall assertions. What happened in Greece and Spain my friend?, and what was the direct cause of those failures? The same policies we currently are putting in place here. Where will we come up with $20 trillion? Not enough "rich" people on the planet to cover that amount, let alone in America." ......................... Please, please, please tell me you DON'T manage any Eurozone funds. If you do, please let me know what they are so I can divest IMMEDIATELY. Your lack of knowledge of general global economic issues astounds me. I guess FauxNews doesn't do a very good job of educating people.

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localguyNov. 7, 12 8:52 PM

For the past four years, we've had a Republican House blocking everything that the president tried to do. Their explicitly stated goal was to make Obama a one-term president. And it was one of the most unproductive congresses in our history. Maybe now that they've failed to block Obama's reelection, they'll take another look at bipartisanism, which is what the American people want. The election is over. It's time to govern.

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