The stock market posted its biggest plunge following a presidential election as reports on jobs and service industries stoked concern the economy will worsen even as President-elect Barack Obama tries to stimulate growth.
I've been advising that the stock market will settle down after the election; I still think it will, so this may not necessarily mean anything. Yet. Still, it's ominous that this is the biggest drop following an election. It's not getting much press - and for good reason, considering the other news behind it - but I wonder how the news would be covered if McCain had won.
My advice remains the same: diversify and invest for the long term. Try to ignore the day-to-day news.
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