Friday, the third day of trading since President Obama was re-elected, looks to be a volatile ending to a scary post-election market. Since the election, the Dow Jones is down more than 3.5%, the S&P 500 is down 3.7% and much of Wall Street thinks this sell-off will continue.
Analysts and CEOs predict the next year to be a very rough one for stocks and the economy, and there might be nothing the president can do to stop the slide.
"Economic prospects might not have been much different if Mitt Romney had won, especially as Congress remains divided. But the subsequent weakness in equities makes sense too," Julian Jessop, chief global economist at Capital Economics, said in a note to clients. "As we had anticipated, the focus has quickly moved on to the uncertainty over the 'fiscal cliff,' and perhaps back to the unsolved crisis in the euro-zone as well."