Dow Suffers Worst Drop of the Year


0  Updated at 3:08 pm, November 7th, 2012 By: ABC Digital
Share This Story

Hemera/Thinkstock(NEW YORK) — U.S. stocks took a pounding Wednesday as investors shifted their attention from the election to challenges facing the economy both here and in Europe.

The Dow closed at 12,932.73, down 312.95 points, or 2.4 percent. This was the biggest point drop for the Dow since November 2011.  
Four years ago the Dow suffered one of its worst point drops ever on the day after President Obama’s election.  The Dow dropped 486 points back then, more than five percent to settle at 9,139.27.  The Dow is up more than 40 percent since then.
Even with Wednesday’s drop the Dow is still up six percent for the year.
Worries about the looming fiscal cliff and Europe seem to be behind Wednesday’s drop.

The Nasdaq and S&P lost 75 and 34 points, respectively.

Watch More News Videos at ABC | 2012 Presidential Election | Entertainment & Celebrity News


Copyright 2012 ABC News Radio

Stories You May Be Interested In:

BBB Warns of Summer Festival  Scammers

16 May 2017 staff

Deseret Book building new store in Idaho Falls

16 May 2017

Paul Menser, BizMojo Idaho