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Wall Street welcomes President Obama

Wall Street has opened sharply down on Inauguration Day... almost 1.5% in the first 15 minutes.

What a welcome to the new President!

Wall Street closed down 4% with the NASDAQ down 4.8%.

Talk about buy on the rumour and sell on the event....

I wonder how the FTSE will open tomorrow morning...

I had a conference call with my NY counterparts the day after the election and I asked them what they thought of the way the country had voted - there was not a positive voice in the room!

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