Just a Speculation?

While talking to my dad a couple days ago, he brought up how much the stock market has dropped from Tuesday (when Obama was elected president) to Thursday. My dad thought it could have possibly been because Obama’s economic plans don’t favor big businesses. Investors know this, and if they think the businesses will falter because of this, they will sell their stocks. I wondered if this was the real reason why the stock market’s 1,000 point crash, the worst in a two day period since 1987, happened. I found a very interesting article that discussed speculations of the stock market’s crash linked to Obama. The article gives quotes and video clippings of people discussing their beliefs that the stock market crash is directly linked to Obama. One quote, from Fred Barnes, summarized my dad’s feeling exactly, “We have seen the stock market go down over 800 points the last two days. There is great uncertainty out there about [Obama’s] policies.” The validity of this statement was exactly what I was wondering. But the last paragraph of the article answered my question. It said that “the recent market plunge has absolutely nothing to do with Obama”. It used New York Times as support, “There were no clear catalysts that spurred the sell-off”. I was pleased to read this, because I was excited and happy to see Obama elected president. I thought it was interesting how Obama is already being the scapegoat for issues in our nation, though he isn’t even the president yet. This event made me wonder if it is foreshadowing how critics and news reporters will treat Obama in the four years to come.