Wall Street Closes Ugly Two Days
So much for the Barack Bounce.
Wall Street took its second straight dive today, with losses across the boards, two days after the election of Barack Obama.
Early indications show that yesterday and today may be prove to be the worst two-day period since the 1987 market crash.
So far, the markets are down 40 percent on the year.
The Dow closed down 443.48 points today, or nearly 5 percent.
The S&P 500 closed down just over 5 percent, and the Nasdaq closed down a little more than 4 percent.
The markets are more likely responding to the ongoing grim economic news than the new president.
October retail numbers, save for Wal-Mart, were particularly discouraging today and more bad news is expected tomorrow, when the October jobs report comes out.
-- Frank Ahrens
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