Stock futures drop as Washington gridlock seems set to continue.

 U.S. stock futures were lower premarket (see below) following Barack Obama's re-election as President, although European shares were solidly higher. While the uncertainty that so distracts investors is over, the gridlock in Washington appears set to continue after the Republicans retained the House and the Democrats the Senate. And now the election is over, attention turns to the fiscal cliff, which is less than eight weeks away.