After three presidential debates, countless media appearances and billions of dollars, Election Day is finally upon us. The total bill for the 2012 election has broken records, with more than $4 billion being raised on the races for the White House and Congress. Analysts and investors have been weighing in on how the election will shape the financial markets, but how have stocks responded since Election Day 2008?
According to Bespoke Investment Group, a market research firm, the S&P 500 has increased about 35 percent since the close on November 4, 2008. Out of the 10 sectors in the index, five have outperformed, while five have underperformed. Consumer Discretionary, Telecommunications and Industrials outperformed the most with gains of 73 percent, 46 percent and 42 percent, respectively.
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Meanwhile, Financials, Utilities and Energy lagged the most with increases of 14 percent, 25 percent and 26 percent, respectively. Technology was one of the best performing sectors heading into October, but suffered a 6.8 percent loss in the month as several companies reported worse-than-expected quarterly revenue numbers.
Since Election Day 2008, the average stock in the S&P 500 is up 76 percent. However, there have been plenty of losers along the way. Listed below are the top 10 worst performing members of the index, according to Bespoke.
First Solar (NASDAQ:FSLR)
Apollo Group (NASDAQ:APOL)
Bank of America (NYSE:BAC)
Hudson City Bancorp (NASDAQ:HCBK)
Pitney Bowes (NYSE:PBI)
Zions Bancorporation (NASDAQ:ZION)
United States Steel (NYSE:X)
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