Wall Street Catastrophe Sends Shock Currents Across Economy
The stock market plunge that wiped over 500 billion dollars from equities risks dampening consumer spending, triggering job losses, and pressuring pension funds and taxes. Economists warn retirees and firms face wealth declines that could curb spending and slow growth.
MENTIONED IN THIS ARTICLE
New York
Wall Street
John Markese
American Association of Individual Investors
Chicago
Robert W. Dell
Sun Oil Co
Radnor
Malcolm Rodman
The
International Association of Pre-retirement Planners
New York State
Manhattan
Edly
James Lorie
University of Chicago
Graduate Business School
Market's Dive Seen As Vote Of No Confidence In Leaders
The stock market's steep slide sparked views that leaders' handling of trade and debt issues failed to inspire. Analysts cited fears of a breakdown in global monetary cooperation and rising rates in Germany and Japan as driving a potential recession.
MENTIONED IN THIS ARTICLE
New York
U.S
Japan
West Germany
Hugh Johnson
First Albany Corp
Martin Sass
M.D. Sass Investors Services
Washington
Reagan
Robert Bork
Supreme Court
White House
Sass
Wall Street
John Phelan
New York Stock Exchange
NY Stock Prices Rise Amid Overseas Market Plunge
Markets rallied modestly as traders blamed panic and computer selling for yesterday's drop. Experts urged calm and long term thinking while bonds, gold, and the dollar moved on fears of deficits and inflation.
MENTIONED IN THIS ARTICLE
New York Stock Exchange
N. Y
Sampson
Ryan Bruerton
Edward D
Dow Dates With History Trigger Historic Market Milestones
New York AP lists key Dow Jones moments from 1906 to 1987, noting first closes above 100 in 1906, peaks and crashes including 1929 Great Crash, 1987 declines, and firsts like 1 000, 1 500, 2 000 levels with dates and closing values. Several dates mark record highs, rallies, and severe market drops.
MENTIONED IN THIS ARTICLE
New York
Wall Street Journal
Soars
NYSE
Also Mentioned on This Page
HATO
Rockville
Rodman
California
Public Employees Retirement System
Steven Malin
Conference Board
James O. Wilson
Philip Morris
Coca-Cola
American Express
Merck & Co
DOW Jones
Eric Z
Leonard Grimaldi
Amivest Corp
U.S. Treasury
United States
Commodity Exchange
Treasury
Dow
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