US stock markets tumbled Wednesday after President Barack Obama’s re-election victory set up a tough battle with Republicans over the looming “fiscal cliff”.
In the first minute of trade, the Dow Jones Industrial Average dropped 118.58 points (0.90 percent) to 13,127.10.
The broad-based S&P 500 fell 13.99 (0.98 percent) to 1,414.40, while the Nasdaq Composite shed 38.50 (1.28 percent) at 2,973.42.
US stocks dive after Obama's re-election
