Apparently the stock markets had gambled that Republican Party would beat Obama, and that is why the US stock markets fell by around 2%.
I actually found this reaction of the market forces surprising.
America has traditionally voted its Presidents power for a second term. There are very few instances when a US President was ousted after his first term.So, I think it was surprising when the markets reacted as if they had not expected Barack Obama to win.
Some experts on the television mentioned that the markets were reacting to the fiscal deficit and other economy related challenges the newly elected President is facing, but am unable to accept this discussion.
Even Mitt Romney would have faced the same challenges. And, given the financial mess the US is in since early 2008, I don't think even he would be in a position to do anything radical to change the country's fiscal condition.
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