The following video is from Wednesday's MarketFoolery podcast, in which host Chris Hill, along with analysts Joe Magyer and Jim Gillies, discuss the top business and investing stories.

In this segment, what had investors so spooked today on the markets? Was it really President Obama's victory in the election that shaved so many points off all the major indices today, or were there more factors at play here? The guys break down how much of this was Obama, how much of it was Europe, and how much of it was the ominously nicknamed "fiscal cliff," lurking ahead in January.

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