NEW YORK Nov 7 U.S. stocks fell sharply on
Wednesday, with the Dow losing more than 300 points and all
major indexes dropping more than 2 percent in the wake of the
presidential election as the looming congressional debate over
avoiding the fiscal cliff and Europe's economic troubles
returned to the forefront.
The Dow Jones industrial average lost 312.95 points,
or 2.36 percent, to close unofficially at 12,932.73. The
Standard & Poor's 500 Index fell 33.86 points, or 2.37
percent, to finish unofficially at 1,394.53. The Nasdaq
Composite Index was down 74.64 points, or 2.48 percent,
to close unofficially at 2,937.29.
The S&P 500 posted its biggest daily drop since June 21,
with all 10 S&P sectors solidly lower and more than 80 percent
of stocks on both the New York Stock Exchange and Nasdaq ending
in negative territory.