said markets would rally if Scott Brown were elected Senator from Massachusetts, because markets love gridlock.
But markets HATE gridlock if they sense the gridlock will put an end to reckless, temporarily beneficial stimulus spending. In this environment, gridlock is the last thing investors want to see, because gridlock means the economy might have to stand on its own two feet.
So even before today’s open, which is expected to be lower, the S&P 500 is down 7.6% since the January 19th close, and the official beginning of the Scott Brown era.
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