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Newspaper
Independent
Location
Long Beach, California, United States of America
Date
May 21, 1970
Page
10
Investors faced a grim outlook amid concerns over the economy, China, and the Middle East. The Dow Jones Industrial Average slumped 14.85 points to 676.85, its lowest close since March 21, 1963, with widespread declines across major stock groups and a sharp drop in trading volume.
Electronics stocks faced declines with Honeywell the hardest hit after revealing plans to form a large computer subsidiary in a joint venture with General Electric. Across 1,578 issues, declines outpaced advances 1,258 to 60, with 617 new lows and 2 new highs. Amex index fell 0.38 to 20.63 as turnover reached 3.82 million shares.
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