Stocks plunge: Dow's worst day of the year
November 7th, 2012
04:45 PM ET
7 years ago

Stocks plunge: Dow's worst day of the year

New York (CNNMoney) - A sell-off on Wall Street gained momentum Wednesday, with the Dow falling below 13,000 for the first time in two months, as investors focused on how President Obama plans to avoid the fiscal cliff after he won re-election Tuesday night.

A weak outlook for economic growth in Europe and European Central Bank president Mario Draghi's warning of a slowdown in Germany also weighed on the market.


Filed under: 2012 • Economy
soundoff (33 Responses)
  1. david

    What a laugh! Looks like the major financial players have zero faith in Obama. Good luck with the economy..

    November 7, 2012 06:40 pm at 6:40 pm |
  2. IVOTE

    This was caused to mourn Rich Mitt's loss.

    November 7, 2012 07:12 pm at 7:12 pm |
  3. Big

    The markets are influenced by consumer confidence. 58 million Americans have no confidence in Obama. Thus, the markets suffer.

    November 7, 2012 07:18 pm at 7:18 pm |
  4. Geordie

    Americans voted for a man who doesn't know the amount of your current debt which costs you hundreds of million of dollars in daily interest alone , he only attended 50 % of all security and intelligence briefings , hasn't given a press conference since Aug. , stood by and watched 4 Americans die and then tried to cover up his negligence and incompetence.
    The future looks bleak and the fiscal cliff is looming and nobody cares.
    I wish I could hope that the next 4 years will get better but I doubt that very much.
    Obama was the wrong choice.

    November 7, 2012 08:41 pm at 8:41 pm |
  5. Roman D.


    Great OBAMA fact, not a bit of truth to it. Jan. 20th 2009 8,600 close for the Dow. As OBAMA likes to say, it's simple arithmetic, 8,600 multiplied by 2 (double) would equal 17,200. It hit a low of 6,600 or so so in March of 2009 a few months after he took office, if you claim an increase for OBAMA, you must also accept the fact he caused it to drop by a few thousand as well yes?

    November 7, 2012 09:06 pm at 9:06 pm |
  6. Ancient Texan

    Investors know that with the re-election of Obama, the tax increases on capital gains and other investments that Obama has been touting, will make investing as a whole less attractive.

    November 7, 2012 09:31 pm at 9:31 pm |
  7. alien

    No one controls the market, but brother they sure can manipulate it. That's a fact jack.

    November 8, 2012 02:04 am at 2:04 am |
  8. MarieMD

    The President doesn't control the market. What congress does in the next couple of months will tell us if bo ner and his minions really got the message. No one term anymore for the President.
    We need for them to come together. Compromise and deals are find as long as cantor and lyan altar boy don't want to blackmail the country again.

    November 8, 2012 06:33 am at 6:33 am |
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