The dow jones industrial average dropped for the 2nd consecutive day following the presidential election, initially feeding fears that the markets are fearing additional regulations.
The dow lost .94% for the day to end at 12,811.32. The Standard & Poors 500 index fell 17.02 points or 1.22 percent to 1.377.51 ending at it’s lowest level since August 2nd. The nasdaq composite index, IXIC, dropped 41.7 points or 1.42%, to close at 2,895.58.
However, today’s drop was very much about investors, and Wall Streets worry about the fiscal cliff deadline. The markets know the problem has to be resolved long term and most especially short term. The Government cannot run out of money and the markets know it, causing a great deal of concern.