Follow this link to the Reuters story Stocks slide as China curbs lending, IBM weighs posted on Yahoo.

The Dow and the Nasdaq had their largest daily percentage losses since late October and the S&P 500 had its biggest drop since late November, a day after reaching new multi-month highs on bets the Democrats would lose a key seat in Congress.

“There was an expectation in the market yesterday that if the Republican candidate was victorious in (the) Massachusetts (senatorial race), it would be a net positive for the market,” Wedbush Morgan’s James said.

So the Republican candidate did win and we have a huge sell-off.  If I thought there was any sense in these articles, I would still be trying to figure out what it is.

Perhaps one of my dear readers can get beyond the nonsense to find the sense.

I suppose I ought to include this doozy:

International Business Machines Corp (NYSE:IBM – News) fell 3.8 percent to $129.07. An analyst pointed out that the company’s earnings per share outlook for 2010 implies a slowdown in EPS growth compared to recent years.

“IBM reported a good number, but I don’t think it was good enough relative to expectations, and tech is in general selling off,” said James.

According to what I heard on Nightly Business Report last night IBM beat expectations, beat last year, and raised their forecast.  What horrible news 🙂