Americans Mull Effect Of Stock Market Plunge
Economists warn the 22.6 percent Dow drop erodes consumer spending and jobs, threatening pension funds and possibly higher taxes. Retirees and public funds face losses, with brokers and firms facing pay cuts as the bear market reshapes Wall Street and beyond.
MENTIONED IN THIS ARTICLE
New York
Wall Street
John Markese
American Association of Individual Investors
Chicago
Robert W. Dell
Sun Oil Co
Radner
Malcolm Rodman
International Association of Pre-retirement Planners
Rockville
Sion
California
Public Employees Retirement System
Manhattan
Kansas Investors Avoid Panic After Historic Dow Plunge
Kansas brokers in Wichita and Topeka reported limited panic as the Dow fell 500 points, marking a historic drop. Investors awaited guidance from New York while KPERS officials warned of long term effects, with experts noting program trading and fear drove much of the sell-off and signaling potential recession in 1988.
MENTIONED IN THIS ARTICLE
Associated Press
Topeka
Wichita
Kansas
Wall Street
New York
Barry Clark
Prudential Bache Securities
Elliot Levand
Paine Webber
Claude Moore
Thomson McKinnon Securities Inc
Joe Pierce
Beecroft Cole and Co
Pierce
Kansas Public Employees Retirement System
Larry Jones
Jones
KPERS
Harold Goodman
United States
Tim Nohr
Wichita State University
Nohr
Levand
Don Barry
A.G. Edwards & Sons
Barry
Patience Indeed A Virtue Counselors Say
New York AP reports investors urged to hold on amid a brutal Dow plunge. Experts warn the Dow could fall further while advising diversification and long term holding, noting tax writeoffs may cushion losses for those selling.
MENTIONED IN THIS ARTICLE
New York
Wall Street
Treasury
Steven B. Enright
Seidman Financial Services
Seidman & Seidman
Also Mentioned on This Page
New York State
Chicago Mercantile Exchange
Robert Wagman
San Francisco
S. Main
Ottawa
Ottawa Fertilizer & Feed
Melvern
Melvern, Kansas
Vassar
Vassar, Kansas
Magnum
Deere
Sheldon Equipment Co. Inc
South Walnut
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