The Dow Jones dived nearly 200 points in early trading today as the jubilation surrounding President-elect Barack Obama failed to fire Wall Street.
It has rebounded slightly, but still stands 98.44 points lower, or 1.02%, to 9,526.84.
European indices remain in the red also, with the FTSE100 down 51.45 points, or 1.11%, to 4588.05 this afternoon.
Mining and resources stocks are still floundering, with the Wood Group 9.04% behind and Eurasian 8.52% lower.
Barclays and RBS are higher however, 7.53% and 6.44% ahead respectively.
On the continent, Paris’ CAC 40 remains 1.17% lower, while Frankfurt’s Dax is down 0.45%.
JPMorgan global strategist Tom Elliott says equities have historically thrived early under a Democratic presidency.
“The US equity market has historically delivered stronger returns under Democratic rather than Republican presidents, with the difference most marked in the first year after the election,” he syas.
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