Futures Point Lower as Obama Wins Re-Election


U.S. stock-index futures fell Wednesday as traders digested the re-election of Barack Obama as president.

Dow futures slumped 110 points to 13090, S&P 500 futures slipped 8.8 points to 1417 and Nasdaq 100 futures dipped 10.5 points to 2665.

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As expected, the presidential race was hotly contested, and Wall Street has been paying particularly close attention to this election because of the broad-ranging economic and business implications.

Chief among the concerns was the looming fiscal cliff -- a potent mixture of painful spending cuts and tax hikes. Political analysts have said that it will take careful stewardship from the White House and Congress to avert the painful blow that could be dealt to the economy.