The Straits Times
Published on Nov 09, 2012

US stocks sink for 2nd day after Obama re-election


NEW YORK (AFP) - United States (US) stocks sank on Thursday in the second day of losses after President Barack Obama's re-election victory, trimming another one percent after Wednesday's huge rout.

The specter of a bruising political battle over the fiscal cliff and budget cutting added to more euro zone worries and lowered corporate outlooks to press share prices down.

But shares were also pulled down by another 3.6 per cent fall in shares of Apple, the world's largest company by market capitalisation, taking its loss in the past five sessions to nearly 11 per cent.

The Dow Jones Industrial Average lost 121.41 points (0.94 per cent) to 12,811.32.