Dow slides as rates, trade fears weigh on markets
The Dow Jones fell 34.59 to 4551.25 amid a broad sell-off driven by higher interest rates, weak overseas markets, and auto trade worries with Japan. Volume reached 296.67 million on the NYSE as investors digest housing data and inflation risks.
MENTIONED IN THIS ARTICLE
NEW York
U.S
Japan
Dow Jones
New York Stock Exchange
National Association of Realtors
Treasury
James Solloway
Argus Research
Federal Reserve
Central Bank
Fed
Market Worries Lift Japan Trade Ties Amid Stock Slump
Investors eye U.S. Japan auto talks as negotiators press to avert tariffs before the midweek deadline. Global markets retreat after weak openings abroad with Nikkei down 0.8 percent and Frankfurt and London sliding. United Health Care to buy MetraHealth for 1.65 billion, Coventry shares dive 7 percent on lower earnings outlook.
MENTIONED IN THIS ARTICLE
Solloway
Japan
Michael Metz
Oppenheimer & Co
U.S
Metz
Tokyo
Frankfurt
London
United Health Care
MetraHealth Cos
Coventry
Standard&Poor
Lockheed Martin to cut 12000 jobs and close 12 plants
Lockheed Martin, formed by the Lockheed Martin merger, plans to eliminate 12,000 jobs and close 12 plants and laboratories to save 1.8 billion dollars. The plan spans five years, with 5,000 cuts this year and 3,000 in 1996, plus 4,000 over the remaining years. The Catonsville Lab in Maryland faces closure, while Middle River Aero & Naval Systems remains unaffected. Corporate HQ in Bethesda will gain staff as work moves from California.
MENTIONED IN THIS ARTICLE
Bethesda
Lockheed Martin Corp
Lockheed Corp
Martin-Marietta Corp
United States
Maryland
Lockheed Martin Laboratories
Catonsville
Othal Deshazo
Lockheed
Calabasas
Calif
Charles Manor
Daniel M. Tellep
Tellep
NASA
Denver
Colo
Sunnyvale
East Windsor
N.J
SAC-TEC Micro Devices Opens East Coast Facility
SAC-TEC Micro Devices opened at 270 Technology Park Frederick in the former Fairchild plant bought from Orbital Sciences. The woman‑owned SAC-TEC Labs, based in California, will expand microelectronic engineering and manufacturing for military space and hostile environments. On tour, operations manager Tom Connolly highlighted testing for accuracy and durability across extreme temperatures, noting zero returns in 18 months. Robert Kunesh, SAC-TEC president, credited Orbital and Fairchild alumni for the new team.
MENTIONED IN THIS ARTICLE
Ed Waters Jr
Sac-Tec
270
Frederick
John St. Peter
Chamber of Commerce
Frederick County
Joseph Braverman
Orbital Sciences Corp
Deborah Fontaine
Maryland Department of Economic and Employment Development
Mary O'Flynn
Sac-Tec Labs
Donald R. Date
Robert Kunesh
Sac-Tec Micro Devices
Joe Leichert
Chamber of Commerce of
270 Technology Park
Fairchild Microdevice
Dulles
California
Tom Connolly
Arctic
Connolly
Golden Corral coming to Frederick with first Maryland restaurant
The Morral family, owners of multiple Pennsylvania eateries, announce a new 11,000 square foot Golden Corral off Md 355 in Frederick. The buffet restaurant seats 414, offers a $5.95 buffet plus a $1.99 upgrade for waiter service, and plans a Sept 15 completion with 175 staff and three managers.
MENTIONED IN THIS ARTICLE
Frederick
Randy Morral
Mr. Morral
Pennsylvania
Maryland
Golden Corral
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Dow
Standard&Poor’s
Giant Foods
GTE Corp
Hech
IBM
Kmart
AllgPwr
Life Tech
Alpha Ind
Loral Corp
Imax
Hwes
Loyola Corp
Avemco
Marriott
Balt GE
MCI Comm
Beil Atl
Mercantile Piowink
Bakshr
Nations Bank
Bank A A Penney
CSX Corp
Pepsico
Coca Cola
Potom el
Comsat
Sears
Crown Amer
Exxon
Fcnb Corp
Wash Gs
F&m Banco
Ask Weis
Undgd
First Unite
Ferris
Baker Watts Inc. A
Lockheed Martin
Valley Forge, Pa
Utica
N.Y
Syracuse
Elite Funding Corp
Seon
Scottsdale
Mutual Funds
Stock Market
Oil & Gas Report
Cb Rate
Scottsdale Securities, Inc
Discount Stock Brokers
Executive Blvd
Rockville
SIPC
Schwab
Quick & Reilly
Fidelity
Dide
Waterhouse
Merrill Lynch
Sare
SGT Mae
DOE
News-Post
Sactec Micro Devices
Orbital Science Corp
Fairchild
Waynesboro
Fcnb Bank
WBANK
Nipwsear
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