Stocks Follow Election With Selloff

Updated from 1:39 p.m. EST

U.S. stocks were down in the dumps Wednesday afternoon as traders took in some bearish corporate news and dreary economic data, while sizing up their prospects following Barack Obama's victory in the presidential election.

The Dow Jones Industrial Average was shedding 330 points to 9295, and the S&P 500 was lower by 33 points at 972. The Nasdaq dropped 63 points to 1717.

Several bits of data about the broad economy painted a grim picture. Automatic Data Processing reported that the U.S. lost 157,000 jobs in October. Economists had forecast a loss of 100,000 jobs. The ADP figure for September was revised to a loss of 26,000 jobs from an initial read of 8,000. ...