Buyers ran for the exits as declines lead advances 4 to 1. It was the largest percentage drop following a presidential election in 112 years of data (shown below) according to Reuters.com. In fact, we have to go all the way back to 1932, during the depression, to find numbers anywhere close to today's blowout.
The
Year Dow S&P Nasdaq President elect
2008 -5.05 -5.27 -5.53 Barack Hussein 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.
Thanks Kristen - another take on this day after election market results (DJIA only) can be found at the Minyanville web site - http://www.minyanville.com/articles/dow-SP500-president--democrat-returns/index/a/19871 . There's a lot of money not being invested in our markets (or probably anywhere for that matter) and just sitting on the sidelines. A big wait and see game while more data is being collected and analyzed. Comparisons are being made to markets in the past but this one somehow looks different. I'm no expert by any stretch but I get worried when I see the "experts" scratching their heads.
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