Dow falls to year low as energy stocks slide
New York stocks declined for the third straight session with the Dow Jones average dropping 9.80 to 924.66, its lowest close of the year. Merger chatter hit energy names like Conoco Cities Service Kerr-McGee and Amerada Hess as investors worried about interest rates and takeover pressures.
MENTIONED IN THIS ARTICLE
New York
Conoco
Cities Service
Kerr-McGee
Amerada Hess
Minnesota Mining & Manufacturing
Dow
Motorola
NYSE
Economy shrinks after strong Q1 growth in 1980
Washington reports a 1.9 percent annual fall in real GNP for the April to June quarter, reversing a 8.6 percent Q1 gain. Baldrige blames Carter era mismanagement and Federal Reserve actions, urging Volcker to stay tight as new orders for durable goods dip 0.8 percent in June.
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Washington
Reagan
Carter
Federal Reserve
Commerce Department
Commerce
Malcolm Baldrige
Federal Reserve Board
Fed
Baldrige
Paul Volcker
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Hughes Tool Parsons
UNC
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Wa Co Na
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American Stock Exchange
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Mix N’ Nees da Sale
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