Investors reacted gloomily today to news of the re-election of U.S. President Barack Obama, maintaining the status quo of a gridlocked U.S. government with the House and Senate divided along partisan lines.
The Dow Jones Industrial Average sold off heavily Wednesday morning, shedding 271 points to trade at 12,974 in the afternoon That’s the Dow Jones’ lowest level since the end of August.
The Toronto Stock Exchange was also lower, with the benchmark S&P/TSX composite index down 118 points to 12,242.
Asia and European stocks took a similar path, with Japan’s benchmark Nikkei losing 10 points to 8,950 and European benchmarks such as Paris’s CAC-40 and London’s FTSE both moved lower.
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