World markets cash in by anticipating Obama's win

LONDON (AP) — Most world markets traded lower Wednesday despite strong gains in Asia overnight as investors booked profits after Barack Obama won the U.S. presidential election and the Democrats took a firmer hold on Congress. “Everyone was buying the rumor yesterday and selling the news today ... The market had not only anticipated an Obama victory, but from what I’m gleaning, pretty much a Democratic sweep,” said Jack A. Ablin, chief investment officer at Harris Private Bank.



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