I've seen 500 point slides in the DJIA rebound 1000 points two weeks later, so the following is spoken with due caution.
But it seems whatever happens to a major government package, it isn't good for the stock market. The gradual decline of the DJIA had been slow and orderly until the TARP passed, where it fell off a cliff, and then the next time we saw a major and abrupt increase, that was after passing the Obama Stimulus.
Now, following the election of Scott Brown in Massachussets and hopefully a failure of ObamaCare and a return of some control to government spending, we still see these agressive declines. I was expecting passage of ObamaCare and then a major correction in the DJIA to follow. But it seems that even its imminent failure was sufficient to trigger the slide.