It was a much asked question heading into the election. Which stocks should investors buy, and which should they avoid in case Obama wins the Presidential election? At first sight, it seems that one should avoid stocks as the S&P 500 (SPY) lost over 3.5% from the highs of Tuesday afternoon, just before the election, and the close on Friday.
Not Just Obama
While many commentators blame the sell-off to the election of Obama, there were more factors at work. There was a portion of bad news from Europe hitting the wires in the second half of the week. ECB President Draghi said that the latest data suggests that Germany is not isolated from the economic difficulties surrounding the country. Growth in the largest economy is expected to slow down from an expected 1.7% to 0.8% next year.
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