Why Is This Happening?
Why is this?
Did something happen two days ago that sent an icy chill through the business community?
Stock markets generally look forward. They are a reasonabe indicator of what the business community expects over the foreseeable future.
I remember the 1980 election. Reagan won on Tuesday. The following Wednesday and Thursday stocks shot way up only to decline a little bit on Friday. Johnny Carson got it exactly right when he said "After Ronald Reagan won the election Tuesday we saw the stock market go up the next day and the day after. Today the investors realized that Jimmy Carter was still in the White House for two more months."
The business community is not expecting things to improve or stocks would have started to rise. They were rising until the election. I don't see that as a good sign. If the rich aren't making money you can be sure that the middle class, working class, and poor won't either.