The day after Barack Obama's historic electoral victory, investors responded by sending stocks plunging. The Dow closed down 496 points, more than 5.16%. The NASDAQ closed down more than 98 points or 5.53%.
The drop marks the largest post-election day decline in history.
With mainstream papers in the past so willing to credit post-election gains (See: NYTimes, LA Times) to Democrat victories, will they be as quick to blame Obama's win to today's historical decline? And what does this say about investors' confidence in Barack Obama's and the Democrats' abilities to solve our current economic crisis?
UPDATE: For the second straight day stocks continued their slide. The Dow closed down more than 440 points, or a little over 4%. The 2-day decline has erased 10% of the markets value.