Market slides after Carter plan doubts hit stocks
Stocks closed lower as fears over higher interest rates lingered despite a Dow surge the previous day on Carter administration dollar strengthening moves. The Dow fell 103 to 816.96 while major leaders such as General Motors Boeing and Kodak dropped, Chrysler rose on leadership changes, and indices across NYSE NASDAQ and AMEX fell or fluctuated amid volatile trading.
MENTIONED IN THIS ARTICLE
New York Stock Exchange
Ins Estors
Dupont
Chrysler
Lee A. Lacocca
Iacocca
Ford
International
At Exchange of Stock
Falcon Seaboard
Diamond Shamrock
Merge
NYSE
Standard & Poor
American Stock Exchange
Speculating money changers and their reach in world markets
The piece identifies speculators as bankers exporters importers and multinational firms including Esso British Petroleum Imperial Chemical Industries and Bank of England operators. It explains the foreign exchange world in London New York and Tokyo and describes short selling profits and market interventions by the Fed Bundesbank and Bank of Japan amid Carter's dollar rescue plan and a volatile dollar.
MENTIONED IN THIS ARTICLE
Mayor
Esso
British Petroleum
Imperial Chemical Industries
Terry Ellis
Britain $ National Westminster Bank
New York
London
Frankfurt
Hong Kong
World Money Center
National Westminster Bank
Ames WY
UVLEM
Oe Indie & Skel
Bank of England
Paris
Tokyo
Washington
Justice Department
UEC
Carter
U.S. Federal Reserve
German Bundesbank
Bank of Japan
D-Day near for financial firms in savings crisis
Dallas AP report outlines looming December decision for savings and loan associations facing high rate certificates. S&Ls must choose to renew at higher rates or exit competition, risking a pullback in home lending and potential deposit outflows. The period since June saw about 6 billion dollars pour into certificates, boosting mortgage activity but creating a fragile funding image amid rising costs. Federal or bank competition looms as possible substitutes if S&Ls bow out, while leaders at the U S League of Savings Associations convention expect renewal of certificates.
MENTIONED IN THIS ARTICLE
Dallas
Savings and Loan
Washington
S&ls
S&l
Dasigignig
Skl
Treasury
Sels
U.S. League of Savings Acarnatians
Also Mentioned on This Page
Mark Potts
Wall Street
Frankfort
Lac Eae Dey
John Cunniff
Joseph Farwell Glidden
Eugene L. Klupt
DDS
Frederick
C&p Telephone Co
Scouige
Ene
Ncos Wein
Arene
The
Thurmont Bank
THI Thurmont 3 Bank
Si BL Rban Bancorporation
Wag
Scoe Fyergreen Pont Branch
Rowe 15 & Grove Howd
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