Wednesday, November 07, 2012

US Stocks: Stocks Tumble 1% Amid 'Fiscal Cliff,' EU Fears.....

Stocks opened sharply lower Wednesday in the wake of President Barack Obama's re-election, triggered by worries over the looming "fiscal cliff" and as fears over Europe resurfaced.

“I don’t think there’s a long-term market reaction to the presidential election itself—it’s now how quickly we can focus on the ‘fiscal cliff’ and coming up with a resolution,” said Art Hogan, managing director of Lazard Capital Markets.

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