yesterday US stock market Faced with the biggest one-day drop in the past year, Barack Obama (Barack Obama) won the election, making investors worry that Washington will launch a tug of war around the "fiscal cliff" issue. They seek Treasuries for policy security.

　　 market This reaction reveals a sense of anxiety, and people worry that the US government, which is internally fragmented, will need a long time to reach an agreement to prevent the economy from falling into recession because of the early implementation of tax increases and spending cuts.

"The market is afraid of the financial cliff and is afraid that there will be a confrontation," said Alan Ruskin, Deutsche Bank strategist. We have just experienced a political uncertainty, and now investors are forced to face a new round of economic and financial uncertainties.

Because of this Investment It has been warned that once the budget is confirmed, capital gains, dividends and investment gains may be subject to higher taxes. Yesterday, the stock market began to fall sharply. The banking and energy sector has also been hit hard, because Obama's re-election means that these industries will remain under severe supervision.

The S & P 500 index fell 2.8% yesterday, the biggest intraday drop in a year. However, although the benchmark index fell to its lowest level since August, it still has a 11% increase compared with the beginning of this year.

The yield on 10 - year treasury bonds fell by 12 basis points to 1.62% as investors worried that the economy might face a slowdown next year. Traders did not rule out the figure falling to 1.5% and the possibility of further sell-off.