Wednesday, November 5, 2008

The Obama Recession Begins: Stocks Have Biggest Post-Election Slump Ever

Writing at, reporter Elizabeth Stanton says the stock market posted its biggest plunge following a presidential election as reports on jobs and service industries stoked concern the economy will worsen even as President-elect Barack Obama tries to stimulate growth.
"We had an election yesterday; that doesn't mean the problems go away," said Kevin Rendino, a Plainsboro, New Jersey- based money manager at BlackRock Inc. who oversees $10 billion. "We still have an economic slowdown."
Read it.

Related: Reuters Factbox - U.S. stocks on the day after presidential elections

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