Wall Street collapses after the election day

FXstreet.com (San Francisco) - The Dow Jones, S&P 500 and the Nasdaq composite have closed at its lowest level since early August the day after the presidential election on the back of status quo resulting from elections and fiscal cliff fears.

Trish Regan, Anchor and Editor for BloombergTV, pointed in her Twitter account that it was "One of the biggest sell offs of the year. Wall Street sending its warning to Washington." Regan concluded: "Fix the fiscal cliff...or else."

The Dow Jones Industrial Average lost 312.95 pts or 2.36% to decline below the 13K mark and close at 12,932.73. The S&P 500 declined 2.37% or 33.86 pts to finish at 1,394.53. The Nasdaq Composite fell below the 3K line and closed at 2,937.29 after dropping 74.64 pts or 2.48% so far today.