Only 50%? That _would_ be a success! In the 2000 presidential election there was a 51% voter turnout in the USA (I'd lol that one but it would be more of a grimace). I don't think Iragi elections are having much real effect on the market... that is just the spin.
This is a "hot potato" market -- nobody wants to be in growth stocks when earnings are reported and especially next quarter estimates are revised -- those 20+% drops are frightening. I expect this will change sometime soon. Meanwhile, as long as oversold conditions persist and late afternoon drops occur my short-term trading method is to buy at the close & sell on the opening rise.