Biggest Post-Election Stock Plummet In History

For those not yet convinced that President-Elect Obama's economic policies are bad for the country, consider this. The Dow Jones Industrial Average fell 486 points, or 5% today in the biggest post-election stock market slip in history. Observe:

(Repeats to widen distribution)

 NEW YORK, Nov 5 (Reuters) - Wall Street hardly delivered a

rousing welcome to President-elect Barack Obama on Wednesday,

dropping by the largest margin on record for a day following a U.S.

presidential contest.

 The slide more than wiped out the previous day's advance, the

largest Election Day rally ever for U.S. stocks.

 The following table shows the percentage rise or decline in the

Dow Jones industrial average .DJI, Standard & Poor's 500 index

.SPX and Nasdaq composite index .IXIC on the day after a U.S

presidential election and who won the Election Day vote.

Year   Dow    S&P    Nasdaq  President elect

2008  -5.05  -5.27   -5.53   Barack Obama

2004  +1.01  +1.12   +0.98   George W. Bush

2000  -0.41  -1.58   -5.39   No decision: G.W. Bush v Al Gore*

1996  +1.59  +1.46   +1.34   William Clinton

1992  -0.91  -0.67   +0.16   William Clinton

1988  -0.43  -0.66   -0.29   George H. W. Bush

1984  -0.88  -0.73   -0.32   Ronald Reagan

1980  +1.70  +1.77   +1.49   Ronald Reagan

1976  -0.99  -1.14   -1.12   James Carter

1972  -0.11  -0.55   -0.39   Richard Nixon

1968  +0.34  +0.16    ---    Richard Nixon

1964  -0.19  -0.05    ---    Lyndon Johnson

1960  +0.77  +0.44    ---    John Kennedy

1956  -0.85  -1.03    ---    Dwight Eisenhower

1952  +0.40  +0.28    ---    Dwight Eisenhower

1948  -3.85  -4.15    ---    Harry Truman

1944  -0.27   0.00    ---    Franklin Roosevelt

1940  -2.39  -3.14    ---    Franklin Roosevelt

1936  +2.26  +1.40    ---    Franklin Roosevelt

1932  -4.51  -2.67    ---    Franklin Roosevelt

1928  +1.20  +1.77    ---    Herbert Hoover

1924  +1.17   ---     ---    Calvin Coolidge

1920  -0.57   ---     ---    Warren Harding

1916  -0.35   ---     ---    Woodrow Wilson

1912  +1.83   ---     ---    Woodrow Wilson

1908  +2.38   ---     ---    William Taft

1904  +1.30   ---     ---    Theodore Roosevelt

1900  +3.33   ---     ---    William McKinley

1896  +4.54   ---     ---    William McKinley

* George W. Bush ultimately was determined the winner of the 2000

election.

Source: Reuters EcoWin

http://in.reuters.com/article/usMktRpt/idINN0531971420081105

Interesting, isn't it? Incidentally, last Saturday, CNBC's Larry Kudlow predicted a 1000-point Dow rally the day after a McCain victory. While this prediction doesn't necessarily mean that's what would have happened, it is interesting to note that upon the election of the candidate who promised economic stability and prosperity, the market took a historic turn for the worse. What does Wall Street know that we don't know? Hmm? Or maybe we do know, but were so mesmerized by a man who never says anything that we voted foolishly. Yeah, maybe that's it.