AP - President-elect Barack Obama pivoted quickly to begin filling out his new administration on Wednesday, selecting hard-charging Illinois Rep. Rahm Emanuel as White House chief of staff while aides stepped up the pace of transition work that had been cloaked in pre-election secrecy.

AP - Over and over, Barack Obama told voters if they stuck with him "we will change this country and change the world." They did, and now their expectations for him to deliver are firmly planted on his shoulders. Many supporters greeted his victory with euphoria.

AP - A case of postelection nerves sent Wall Street plunging Wednesday as investors, looking past Barack Obama's presidential victory, returned to their fears of a deep and protracted recession. Volatility swept over the market again, with the Dow Jones industrials falling nearly 500 points and all the major indexes tumbling more than 5 percent.