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Post-election retreat: Dow plummets
Posted By -NO AUTHOR- On 11/07/2012 @ 12:48 pm In Front Page,Money,U.S. | No Comments
FOX Business: Capitalism Lives Here
Equities, commodities and other risky assets tumbled on Wednesday after U.S. elections left Washington, D.C. as sharply divided as before as the fiscal cliff looms large.
As of 11:55 a.m. ET, the Dow Jones Industrial Average slumped 315 points, or 2.4%, to 12931, the S&P 500 slid 33.4 points, or 2.3%, to 1395 and the Nasdaq Composite fell 71.2 points, or 2.4%, to 2941.
The Dow fell below the 13000 mark for the first time in intraday trading since early September. If the blue-chip average closes below that mark on the day, it will be the first time since August 2.
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