Wednesday's Bloomberg Market Report
A sell off following President Obama's re-election and what does another four years mean for America's health care system? Here's the Wednesday Bloomberg After The Bell Report from the New York Stock Exchange.
8138.80 down 173.55
American Stock Exchange
2380.68 down 17.65
NASDAQ Composite
2937.29 down 74.64
Standard And Poors 500
1394.53 down 33.86
Stocks slid into sell off mode driving the S&P to its biggest decline since June.
Following President Obama's re-election, investor focus turned to the budget debate and Europe's debt crisis. Financial shares among the big losers and struggling Blackberry maker Research In Motion plunged after an analyst said the company's new Blackberry 10 operating system, which is key to its comeback plan, may be dead on arrival.
Looking ahead, President Obama's victory means the new health care law stays in place and that hospitals stand to benefit by getting more paying customers while insurers like United Health Group will see profits squeezed. This as the Affordable Care Act expanded coverage to as many as 30 million uninsured Americans starting in 2014.
NBC won the Election Night ratings race with more than 12 million viewers while early Nielsen figures show CNN had the most among cable channels with almost nine million.
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