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Independent in Long Beach, California

30 Oct 1975

Page 15

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Independent October 30, 1975 Page 15 old newspaper archives

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Newspaper

Independent

Location

Long Beach, California, United States of America

Date

Oct 30, 1975

Page

15

Previous day's gains wiped out on New York stock crash

New York stock market fell sharply as reports tied to President Ford’s possible aid to avert default fueled uncertainty. Dow Jones closed at 38.63, down 12.83 points. 1,073 of 1,828 issues declined while volume dropped to 10.1 million shares amid broad losses.

MENTIONED IN THIS ARTICLE

New York New York City Ford New York Stock Exchange Coiba IOS Bay Imereti Peet Cai Balliol Armia Spede Noanan Peilen Ian Rig Kovud Retina Nasrante Reece Eduesday Karan Paustaie Kentien Dury Prey Tees Co Benatar Ant Heulvind
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Plan to avert default shakes New York City stocks

Moody's downgraded New York City's general obligation bonds from Ba to Caa after a Ford plan to avert default failed to reassure markets. The Dow fell as trading ended, with the Nasdaq and NYSE composite down sharply. Officials insisted only a federal rescue could prevent default, while Ford reiterated opposition to federal help.

MENTIONED IN THIS ARTICLE

Dow Vord New York City Ford Moody's Investor SerVice
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Also Mentioned on This Page

Investmen Monon Didtx Hie American Stock Exchange
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