November 2, 2004

In what is surely a sign of the times and/or another indicator that Wall Street bears more resemblence to Vegas than it would care to, weblogs are influencing the Dow Jones.

A few online sites are reporting that in early polling, John Kerry is slightly ahead in Ohio, Florida and other key states, which lead to a sell-off in defense, pharmaceutical, health care and medical technology companies (that would all reap huge profits under four more years of a Bush administration, of course), which lead to an 18-point drop in the overall industrial average.

I suppose that if the tide were turning in the opposite direction (assuming that weblogs know anything about anything) we would be watching sudden stock drops in companies that sell educational supplies, "green" companies and Miramax.

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