I wouldn't panic yet. They dropped and went back up a bit though the overall was down for the day.
Here is an article to explain another reason.
I can believe the re-election of Obama did this without a blink of an eye!! I predicted that the day Romney won the stock market would hit the roof....it started going up...then when Obama was re-elected DOWN it went again!
This post was modified from its original form on 07 Nov, 13:38
There are going to be MORE businesses taking thier business OUT of the country where they won't have to pay the exorbiant taxes that Obama will put on them!! SO...who is next in line to pay MORE taxes yet!? You guessed it the MIDDLE CLASS Americans...so all of you who voted for Obama you are getting what you didn't wish for!!!
This is typical for every election. The trick is to buy some period prior to an election and then determining on who wins, when to sell. If a democrat wins, sell immediately! If a Republican wins, hang on to it for at least 6 months. It works every time, every election! Those who doubt me can go to any stock reporting site and do an historical search on the exchange. Take a look at the past 20 plus years and you will see how to make a little money fast, depending how much you are willing to risk.