WNYT.com

Election sends markets tumbling

Posted at: 11/07/2012 4:52 PM
Updated at: 11/07/2012 5:29 PM
By: Steve Handelsman

 

President Obama now faces the urgent task of working with Congress to avert financial crisis.

Investors, who were worried about tax increases and spending cuts, immediately started dumping stocks today, sending the markets tumbling, with the Dow plunging 313 points.

Many on Capitol Hill are wondering now, is whether election be the jolt needed to get things done.