The Stock Market And The Obama Win

Ken AshfordElection 20081 Comment

It means nothing that the Dow dropped 300 points today.  If one is going to make the argument that it has something to do with the Obama win, then one needs to consider that the Dow went up 300 yesterday, a day when it was clear to everyone that no last minute "surprises" would thwart an Obama win.

The truth is that that Dow has been going up and down by hundreds of points MANY days over the past several weeks (mostly down) for reasons having nothing to do with the election and everything to do with the financial crisis/housing bubble burst/credit crisis.

Nobody reasonably argued that the election of Obama alone was supposed to solve Wall Street's woes.  So today's dip in the Dow doesn't refute that never-made argument.