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Wall Street throws a tantrum
Following the 2008 and 2012 presidential elections, the stock market took major turns for the worse.
Henny Ray Abrams/ASSOCIATED PRESS
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By Howard Owen
It is instructive to note that eight of Mitt Romney's top 10 donors this time were banks, accounting firms or investment funds. None of Obama's top 10 were.
The market probably will get over its latest disappointment, if history is any teacher:
The day after Obama was elected, Nov. 5, 2008, the Dow fell to 9,139 points.
A year later, On Nov. 5, 2009, the Dow passed 10,000 and had grown
On Nov. 5, 2010, the Dow was at 11,444, almost exactly 25 percent higher than it was two years earlier.
At some point, the market usually stops pouting and goes about its business, waiting for a better (for Wall Street) day.
Business Editor Howard Owen writes this biweekly column