Following Obama Victory Stocks Plummet
Bloomberg – U.S. stocks fell, sending the Dow Jones Industrial Average to the lowest level since August, as investors’ focus returned to the U.S. tax debate and Europe’s debt crisis following the re-election of President Barack Obama.
All 10 groups in the Standard & Poor’s 500 Index retreated as energy, financial and industrial companies had the biggest losses. Bank of America Corp. (BAC), Apple Inc. (AAPL) andFreeport-McMoRan Copper & Gold Inc. (FCX) fell at least 2.2 percent to pace losses among the largest companies. Fertilizer producers dropped as Agrium Inc. (AGU) tumbled 8.8 percent amid disappointing earnings.