Morning Examiner: The status quo, only worse | WashingtonExaminer.com: The American people voted Tuesday and the markets reacted Wednesday. The Dow Jones Industrial average fell 312.95 points, or 2.4 percent, the biggest percentage point decline this year. All 30 Dow component stocks fell, although coal companies, financial firms, and defense stocks were hardest hit.
“By returning a divided government to Washington, the electorate has given neither party a clear mandate to address the lackluster recovery, the fiscal cliff, and the looming debt crisis,” Brian Kessler of Moody’s Analytics told The Wall Street Journal. “When I look at what happened, I see a government that grew farther apart which might be worse than the status quo, Barry Knapp of Barclays added. “The risk of going off the cliff has just gotten huge.”
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