Letter: Stock market decline after election

Published: Friday, Nov. 9 2012 12:00 a.m. MST

In this Wednesday, Nov. 7, 2012, photo, Luke Scanlon, left, of MND Partners Inc. works on the floor of the New York Stock Exchange in New York. Financial markets settled down Thursday, Nov. 8, 2012, after the turmoil of the previous day when concerns over the U.S. fiscal situation combined with renewed worries over the European economy to hammer stocks.

Henny Ray Abrams, ASSOCIATED PRESS

Enlarge photo»

Hopefully the 2.4 percent decline in the stock market and the Dow Jones Industrial Average down 313 points was just a one-time adjustment for the election results and will not be a precursor to a whole series of them while the political process addresses this country's economic problems. To try to put the market's assessment of the election results into perspective, if you thought the $6 billion spent on elections was a waste, Wednesday's market decline was roughly equivalent to $900 billion.

Ivan Iverson

Layton

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