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Market Meltdown
 U.S. stocks dived on Wednesday, with the Dow Jones Industrial Average sinking more than 300 points, as anxiety about the so-called fiscal cliff hit investors in the wake of the re-election of President Barack Obama who will face once again a divided Congress. "Our base-case scenario is the fiscal cliff is now the base-case scenario," said Dan Greenhaus, chief global strategist at BTIG LLC. "Today with Obama being re-elected, people are saying 'wait a second, this is a real possibility,'" said Greenhaus of the more than $600 billion in tax hikes and spending cuts scheduled to take effect in January should Congress fail to reach a budget agreement Posted by: Au Auric 2012-11-07 |
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