The Washington Times

Stocks down on Obama re-election

Stocks plummeted as President Obama's re-election reinforced fears that a battle over higher taxes will drive the U.S. economy over the “fiscal cliff.”

A television feed on the floor of the New York Stock Exchange shows Pres. Barack Obama, left, and his daughter, Malia, the day after he was re-elected, Wednesday, Nov. 7, 2012 in New York. With President Barack Obama elected to another term, U.S. investors dumped stocks Wednesday and turned their focus to a world of problems, including a "fiscal cliff" of tax increases and spending cuts at home and a deepening recession in Europe.  (AP Photo/Henny Ray Abrams)

A television feed on the floor of the New York Stock Exchange shows Pres. Barack Obama, left, and his daughter, Malia, the day after he was re-elected, Wednesday, Nov. 7, 2012 in New York. With President Barack Obama elected to another term, U.S. investors dumped stocks Wednesday and turned their focus to a world of problems, including a "fiscal cliff" of tax increases and spending cuts at home and a deepening recession in Europe. (AP Photo/Henny Ray Abrams)

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