Market Takes Sharp Loss on Broad Stock Decline
New York stocks dropped sharply in Thursday trading as the market weakened after a rally sparked by the British pound devaluation. The Dow fell 7.34 to 875.81 with 824 down versus 453 up among 1,481 issues. average volume was 8.87 million and rumors of a potential FRB rate move circulated amid notes on tax policy signals.
MENTIONED IN THIS ARTICLE
New York
Federal Reserve Board
Broad
Wall Streets
Washington
William McChesney Martin
FRB
Wilbur’ D. Mills
House
Ways and Means Committee
Johnson
Dow
Associated Press
Markets At A Glance and Cotton Trends
New York markets show stocks lower with mixed commodity quotes on wheat corn oats and soybeans. Cotton futures rise with firm spot markets amid USDA crop forecast expectations. potato and dairy prices move in varied directions across Chicago and New York.
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New York
Chicago
Agriculture Department
Memphis
U.S
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