That piece of misinformation obviously gets you a citation by the Truth in Stats Committee. I also heard that on CNBC today but then I also heard that the market fell by over 5% the day after elections four years ago.
It turns out that the latter was absolutely correct - on Wednesday, Nov. 5, 2008 in the midst of the once-in-a-lifetime credit crunch market crash, the S & P plummeted 5.3% from 1,006 to 953 the day after Obama was elected.
Shame on you for not taking the time to verify what you posted. The truth of the matter is that today's 2.4% market decline was less than HALF the decline of four years ago post-election.
It is kind of ugly. Utilities are taking it the hardest. It is primarily a reaction to the election with the world economy having a somewhat lesser affect. My dog of the day is SO with LNT a runner up.
Hey Peb, I should have added that Reuters and about 10 other reliable sources reported the same thing I did. I think the truth in stats comittee is confused because its brain tilted trying to calculate the annual gain of 2.9% every eight days for a year. LMAO!!
Stock index futures were UP this morning until about 2.5 hours prior to the opening bell. That's when European Central Bank chief Mario Draghi offered the opinion that Germany was heading for recession. Futures immediately plummeted following that news.
Anyone with a brain knew that Romney was at best a longshot and the election results shouldn't have surprised a soul.