Market Drops as Traders Take Profits Amid Ford Strike Wait
New York stocks fell as investors booked gains while Ford settlement talks continued. Fed Board proposed tighter stock credit after close, with margin requirements unchanged for regular purchases. Volume 251 million shares. Dow down about 7 points to 96.73, vast activity near week’s end.
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Economy analogy fevers over inflation and demand
A AP Business News analysis likens the economy to a strong body with internal fever caused by demand and supply imbalances. The piece notes rising production and prices, inflation fever, consumer spending shifts, high interest rates for cities, and pressure on Congress and the Fed as they attempt to offset inflation while borrowing and spending.
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