So much for that theory. We expected stocks to get a bit of a bounce on news that Barack Obama would reappoint Ben Bernanke, signalling he doesn’t want to switch horses midway through the race. But nope; didn’t happen.
Stocks dropped in both Asia (Shanghai -2.6%, Nikkei -0.8%, Korea -0.7%) and Europe (London -0.5%, France -0.5%).
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