The market weighs in
Stocks fall 500 points on postelection nerves
It was the biggest-ever drop following a presidential election, although if that is in absolute terms (Bloomberg doesn't say) then it may not be what I would consider the real record. But in any case it appears that the vaunted "Obama discount" that has supposedly been built into the market was not fully in effect.
If he can avoid silliness like "economic stimulus" or stupidity like tax increases (of any kind) the market should recover a good deal in the coming months. The more government interference we get, the longer the slowdown will last, bottom line.
UPDATE 11/7/08: The freefall continued on Thursday. The two day drop in the Dow was the largest since the 1987 crash - and that's the real decline, percentage, not absolute dollars.