The Dow Drops 330 Points

Wall Street, apparently, wasn’t thrilled with yesterday’s election. The stock market is taking a bit hit this morning. The S&P 500 has been down as much as 2.3% today which if it holds up would make it one of the worst days this year. I’m a little surprised the stock market is so surprised.

Of course, there could be other factors at work. For example, there was a lousy report on German manufacturing today which comes on the heels of another bad one yesterday.

There’s also a general strike in Greece as the legislature gets ready to vote on more austerity measures. I noticed that of the seven worst performing stocks in the S&P 100, five are major banks ($JPM $C $GS $JPM $BAC). Also, the defense contractors are having a rough day.

Posted by on November 7th, 2012 at 11:30 am


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