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Re-election made Wall Street pout page 2
Wall Street throws a tantrum

 Following the 2008 and 2012 presidential elections, the stock market took major turns for the worse.
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Date published: 11/11/2012

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 9.4 percent in a year.

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 on business and the economy. He can be reached at 540/374-5539 or howen@freelancestar .com.

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