Stock market reverses on Kerry exit poll lead

Blue chips fell on Tuesday in a sharp reversal that trimmed gains in other indexes as Internet sites suggested exit polls had Sen. John Kerry ahead of President Bush in key states in the U.S. presidential election.

Lisa Hansen, head trader at Transamerica Investment Management, said, “Apparently the blogs are saying that Kerry is ahead in one or two of the swing states and that’s why the market dipped.”

Wow, blogs are influencing the stock market now!

Stock traders: You might want to dump your Fox News shares ASAP. A Kerry victory will be very bad news indeed for Fox.