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Investors Cautious Amid Slowdown Fears In Nixon Era
Investors grew wary as Treasury Secretary Kennedy signaled a possible year extension of the 10 percent surtax to curb inflation. A weak stock market, with the Dow at 916.55 and banks closed for Washington's birthday, reflected broad economic jitters. Congress planned hearings on tax reforms and mergers, while the Justice Department blocked a major Atlantic Richfield Sinclair Oil merger over anti trust concerns.
MENTIONED IN THIS ARTICLE
Lisa Cronin
NEW York
Nixon
Treasury
David M. Kennedy
Kennedy
Senate
House Economic Committee
Congress
Paui McCracken
Council of Economic Advisers
Robert P. Mayo
Johnson
House Antitrust Committee
House Commerce
Justice Department
Atlantic Nee Co
Sinclair Qil
Department
Petralium Corp
Ford Motor Cars