Dow down 486 points, Nasdaq down 98 points

U.S. stocks fell sharply Wednesday, after investors Obama victory would turn their attention to the deteriorating macro-economic, October Institute for Supply Management's service sector index fell to the creation in 1997 to its lowest level since. Obama's investors began to speculate on his business and the impact of macroeconomic. Obama's election could mean oil and gas industry, electric utilities and public water pharmaceutical industry will face more stringent controls, and even higher taxes. Economists pointed out that the U.S. economy may fall into a serious recession, as well as the spread of the global financial crisis, Obama did not have much time to enjoy the joy of success. Avalon Partners chief market economist Peter - Cardillo (Peter Cardillo) said that "the market rose yesterday because investors expected that Obama will win, and now we need to be realistic, Obama made in its economic plan Investors should learn to wait. " Institute for Supply Management's service sector index in October from 50.2 in September fell 5.8 to 44.4, which is the index since its inception in 1997 to its lowest level, lower than market expectations of 2.6. If the index below 50 shows contraction in the service of the United States. As of November 1 week U.S. crude oil inventories increased by 5.4 million barrels a day, the previous market expectations for an additional 100 million barrels. Tomorrow the focus of attention of investors, including financial Enke, the major retailers in October same-store sales, for the first time last week, as well as the number of applications for unemployment benefits in the third quarter productivity report. In addition, is expected to include the European Central Bank, the Bank of England and Bank of Korea, the central bank will cut interest rates announced Thursday. As of the close (5:00 am Beijing time), the Dow Jones Industrial Average fell 486.01 points to 9139.27 points, or 5.05 percent. Dow 30 component stocks in a total of 29 stocks fell, Boeing fell 7.0 percent, Citigroup fell 12.1 percent. General Motors (GM) fell 4.4 percent. According to the "Detroit News" quoted General Motors posted on its Web site an internal memorandum reported that General Motors will be released Friday when the disclosure of financial operations of a major decision. Standard & Poor's 500 index fell 52.98 points to 952.77 points, or 5.27 percent; Nasdaq composite index fell 98.48 points to 1681.64 points, or 5.53 percent. Standard & Poor's 10 industry plate fell across the board, finance, industry and led by a plate of raw materials. PNC Wealth Management investment company executive Jim - Dunnigan (Jim Dunigan) said that Obama won the general election to the joy of investors may not last long. Dunnigan said, "We are aware of the morning to get up after the United States is faced with many challenges." London FTSE 100 index rose six in a row in the transaction in the future of the current weakness in Asian stock markets rose in Tokyo the Nikkei 225 index rose 4.5 percent. UBS analyst pointed out that Obama won the large pharmaceutical companies, nursing, high-end consumer goods companies, coal and coal-based public water, electric utility companies, domestic energy services, integrated oil companies, as well as at the Bermuda insurers The bad news is, but for hospitals, nursing operator, life sciences, natural gas, solar energy and life insurance companies is a good news. Dunnigan and that based on the results of the elections may not make wise investment decisions. He said that "if taking into account the macro-economic factors, which you may be very optimistic about the industry vulnerable. For those who do not how macro-economic sensitive sectors may have better performance, such as bulk goods, some of the medical and biotechnology companies." Dollar fell against the Japanese yen exchange rate, crude oil futures fell 1.90 U.S. dollars to 68.63 U.S. dollars a barrel. ADP October forecast a loss of 157,000 jobs. Time Warner (TWX) fell 5.6 percent, the company's third quarter profit fell 1.7 percent year-on-year, the company also reduced full-year performance targets. News Corp. (NWS) will release financial results after the close. Google (GOOG) said that as a result of regulatory authorities from advertisers and some of the resistance will no longer seek and Yahoo (YHOO) advertising in the field of cooperation. Yahoo also confirmed that cooperation between the two sides have been stranded. Dunnigan said that Cisco and other IT companies will benefit from the enterprise to improve efficiency and investment. In yesterday's presidential election, a strong surge in U.S. stocks, the Dow Jones Industrial Average rose 305 points, the Nasdaq composite index rose 53 points, S & P 500 rose 39 points, the index closed for the first time in three weeks In 1000 the top of the points.