2012-11-07 — usatoday.com
Investor reaction is decidedly negative over the defeat of the more business-friendly Mitt Romney and the continued gridlock in Congress that makes it tough for lawmakers to avert a fiscal policy crisis by year-end.
Wall Street pros said negative sentiment was amplified Wednesday after European Central Bank President Mario Draghi expressed concerns ahead of the U.S. market open about the outlook for Europe's economies, especially Germany.
Others said much of the sell-off is coming from computerized trading programs, which trigger huge sell-offs of stocks when certain price levels are hit versus investors who are making decisions in the moment based on changes about what they think of the outlook for stocks.
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