I expect if Romney was elected, the market would have dropped more and faster. There would have been more uncertainty in a Romney administration.
This market response is more due to a long term dismal outlook on the market and life in general, which is not the product of one man.
Drastic change causes drastic consequences. The multiple "Free" Trade Agreements were too many, too much, too quickly. We sent our jobs overseas, got some cheaper goods, but many lost their jobs and can't as much afford to be consumers, which hurts us all.
It is absurd to have restrictions, taxes, and liability for US manufacturers, have free trade agreements, and not expect jobs to go overseas. It's not the CEO's that send the jobs there, it is us, the consumers (buying cheaper goods, even though some are inferior quality) and voters (electing officials who sign more and more "free" trade agreements.)
President Obama is but one small part in this scenario and Romney would have continued down this path.
There was a time when most young people knew they were going to have a career designing video games, and felt they were preparing themselves by playing a lot of those. The parents were wealthy with equity loans and didn't disagree. The kids didn't know that even to design a game they needed language, math and work ethics. What we have now are quite a few manufacturing jobs and not nearly enough qualified candidates. The reason? Applicants fail in one or all of ability to use mathematics to measure a part, ability to form a sentence, commitment to come to work everyday.