Markets foresee Fed rate cuts amid Soviet crisis
Analysts say global jitter from the Soviet coup could push Federal Reserve policymakers to ease credit at this week's meeting to support the faltering economy. They note inflation signs are mild, with CPI up 0.2 percent in July, while recent data show weak to negative growth and a fragile recovery.
MENTIONED IN THIS ARTICLE
Washington
Soviet Union
Federal Reserve
Union
Elliott Platt
Donaldson, Lufkin & Jenrette Securities Corp
New York
Allen Sinai
The
Boston Co
Fed
Mikhail Gorbachev
Bush
Robert G. Dederick
Northern Trust Co
Chicago
Federal Open Market Committee
Area stock quotes from Ferris Baker Watts Frederick office
Quotations courtesy of Ferris, Baker Watts Inc Frederick office. Area stocks of interest are listed with market movement and closing values. The brief item notes price changes and notable shifts in several regional blue chip and mid cap issues.
MENTIONED IN THIS ARTICLE
Ferris, Baker Watts, Inc
Frederick
Dow Jones
NEW York Gold
Avemco
Baltge
Bantec
Bell Ad
Black Dr
C&S/Sovran
Citizens Bank
CSX Corp
Comsat
Exxon
Fcnb Corp
Ae F&m Bancorp
First Bank of Frederick
General Motors
Giant Foods
GTE Corp
IBM
Lowes
Loyola Corp
H* Marriott
H MCI Comm
MNC Fin
Mercantile
Bokshi
Moore Corp
We Penney
Potem el
Sears
Wash Gs
Whittaker
European stocks tumble as Gorbachev ouster shocks markets
European markets fall sharply after news of Mikhail S. Gorbachev's ouster. The dollar and gold price jump as central banks, led by Germany's Bundesbank, intervene to stabilize currencies amid concerns of civil unrest. Traders remain cautious awaiting Soviet developments.
MENTIONED IN THIS ARTICLE
London
Mikhail S. Gorbachev
Europe
Germany
Bundesbank
Soviet Union
Gorbachev
Ian Stephenson
Salomon Brothers International
David Deakin
Nikko Bank (UK) Ltd
Experts forecast Coup dampening U.S. ag sales prospects
Scripps Howard News Service reports that the Soviet coup will curb near term US agricultural export hopes, especially wheat corn and soybeans, with long term trade likely to continue as Soviets need grain and American farmers seek sales. Bush may suspend allocations and banks worry about loan guarantees.
MENTIONED IN THIS ARTICLE
Washington
U.S
Dan Glickman
D-Kan
House Agriculture
Bush
Soviet Union
United States
Mr. Bush
Ronald Reagan
Jimmy Carter
Afghanistan
Japan
House Agriculture Committee
Kika de la Garza
Texas
Glickman
Paul Drazek
American Farm Bureau Federation
Bush Administration
Tokyo shares plunge on Soviet ouster shock
Tokyo stock prices slid nearly six percent as news that Mikhail Gorbachev was ousted as Soviet president sparked panicked selling. The Nikkei fell 1,357.61 points to 21,456.76, the third largest drop by percentage. Analysts warned of a prolonged impact amid global volatility.
MENTIONED IN THIS ARTICLE
Tokyo
Mikhail Gorbachev
Moscow
Tsutomu Kitamura
New Japan Securities Co
Soviet Union
Ryutaro Hashimoto
Mike Morizumi
Lehman Brothers
Yoshiro Inoue
Nomura Securities
Also Mentioned on This Page
Ce Falls
Mt. Airy
Fcnb Precision Banking
FDIC
Mr. Arry
Asry
Associated Press
Frankfurt Stock Exchange
East Germany
Fsk Mall
Frederick County National Bank
FSK
Leggett
Scripps Howard News Service
R A
Ana Toon
Walkersville
Fcnb Orecsion
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