Market declines as rate worries hit stocks on quiet Monday
New York markets fell broadly as rate and recession concerns weighed on trading. The Dow dropped 29.06 to 2619.24 while NYSE volume eased to 118.39 million shares. Market breadth favored decliners over gainers by about 2 to 1 with 479 up, 1042 down, and 442 unchanged.
MENTIONED IN THIS ARTICLE
New York
Sesson
Wilshire Associates
NYSE
Standard & Poor
S&p
American Stock Exchange
First-time buyers out of home market
The National Association of Realtors reports fourth quarter 1989 affordability for first-time buyers remains weak despite income gains and lower prices. The typical renter family has 74.4 percent of the income needed for a starter home, with median income at 22,878 and a median starter price of 78,900. Mortgage rates rose in January, likely worsening overall affordability.
MENTIONED IN THIS ARTICLE
Washington
National Association of Realtors
NAR
Norman D. Flynn
John A Tuccillo
Mandela's release sparks market shock in South Africa
Nelson Mandela urged nationalizing key industries including mines, sending gold shares down four percent on the Johannesburg stock exchange. The financial rand slid ten percent as prices rose in Europe and the United States. Mandela backed ANC plans for a state run economy, while promising peace and urging no fear for whites under democracy. Executives warned about negative investment perceptions but hoped reforms would revive Western investment.
MENTIONED IN THIS ARTICLE
Johannesburg
South Africa
Nelson Mandela
Johannesburg Stock Exchange
Financial Rand
Europe
United States
Mandela
African National Congress
ANC
F.W. de Klerk
de Klerk
Gavin Kelly
Anglo American Corp
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Omaha Livestock
Omaha
Nebar
USDA
Chicago
Chicago Board of Trade
Fri
Wee Sme Smith
Frederick, Md
Governor's Choice Industrial Park
Governor's Choice
Fiat
Governor's Industrial Park
Jerf Fouche
Motier Avenue
Opossumtown Pike
Hayward Road
Governor's Choice Industral Park
Hayward Court
Realtor Inquiries Welcome
Kline Leasing & Development
Montgomery County High Technology Council
Sheraton Potomac-Rockville
National Institute of Standards and Technology
Donald R. Johnson
Mr. de Klerk
Margaret Thatcher
Britain
Bush
Yan Lem
First General Mortgage Company
First Virginia Bank
Rockwile Ofice
Marcy Porter
Cheryl Lewis
Fik Francis Scott
Frederick Underwriters, Inc
Auto Group
Frederick Underwriters
East Street
Frederick
Patrick Street
Main Street
Mt. Airy
Franklinville Road
Thurmont
Firehouse Financial Center
Kathryn Reed
Chamber of Commerce of
Frederick County
James Lee
Eirehouse
Vaces Fredenck
Mid
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