Here's The Biggest Sign That Investors Are Freaking Out About The Fiscal Cliff Today

As Dave Lutz at Stifel, Nicolaus points out, defence stocks are “ground zero” for the fiscal cliff, since the cliff is supposed to whack defence spending.

As such, the ITA ETF (defence) is down over 3% in the wake of Obama’s victory.

All that being said, we’d argue that the fiscal cliff scenario isn’t quite as bad as people might fear >

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