What a Week: Political Uncertainty, Economic Concerns Roil Economy

SAN FRANCISCO -- Our long national nightmare of uncertainty showed hints of ending, but ultimately there was no resolution on either the political or market front this week.

Early Friday, a Florida circuit court ruled Florida Secretary of State Katherine Harris was justified in denying recount petitions of several counties. The decision appeared to clear the way for a declaration of a victory in the endless presidential election, following the counting of absentee ballots and notwithstanding additional legal challenges.

The market rallied initially on the news and the apparent victory (again) by Gov. George Bush. But the rally faltered almost as soon as it started, mimicking the broader trend of recent weeks. Perhaps traders anticipated what would occur Friday afternoon, when the Florida Supreme Court issued a ruling blocking Harris from certifying the election. ...