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Market slides as rates and dollar woes weigh on stocks
Investor concern over rising rates and foreign monetary issues pushed markets lower. The Dow fell to 944.69 as banks raised prime rates to 5 percent and Britain floated the pound briefly, with volume on the NYSE at 13.94 million shares. The AP 60 average dropped to 226.0, while the S P 500 closed at 108.27 amid declines in airlines, rails, electronics, and motors.
MENTIONED IN THIS ARTICLE
NEW Yun
Britain
Monte Gordon
Sartorius & Co
Enthuslaam
New York Stock Exchange
Associated Press
Standard & Poor
Magnavox
Travelers
Tell
Active Stock
General Foods
Che Aluminum Chemical
Curtiss-Wright
American Airlines
Columbia Pictures
Heublein
American Stock Exchange