NEW YORK (Reuters) - U.S. investors hit trading floors Wednesday morning with the same president and the same problems in gridlocked Washington, and expected the same solution as always to a looming budget crisis that threatens the economy: punt and deal with it later.
Shares dropped sharply on fears that partisan bickering will prevent compromise. The S&P 500 fell below a key level for the first time in two months. Bank and defence stocks fell on a sell-off by investors who had bought those sectors in hopes Republican Mitt Romney would win.