November 7, 2012
Obama's victory didn't trigger a rally for the market where the Dow fell a very steep 2.4 percent to 12,932, ending near session lows and below 13,000 for the first time since early August. The victory, together with another Republican victory in the House, points to the risk of year-end statement at the fiscal cliff. Oil fell a sharp $3.50 to $84.50 while gold held steady near $1,720. The dollar rose slightly while safe-haven accounts bid Treasury yields lower.