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This newspaper page contains 3 articles. Subscribers can read the full text of each article.
Newspaper
Press Telegram
Location
Long Beach, California, United States of America
Date
Aug 26, 1977
Page
17
A cluttered OCR page shows 1 PM prices, bond quotes, and stock listings with numerous names and figures. Mentions CHAYES, Yale, and various investment trusts, alongside scattered prices and market phrases amid dense, jumbled text.
New York stocks faced broad declines as interest rate fears and talk of a slowing economy weighed on sentiment. The Dow Jones industrial average stood down about 4.87 at 849.45 at noon, with losses widening across NYSE issues and the composite index sinking to new low for the year. Brokers blamed the selloff on recession forecasts and expected rate hikes, noting heavy volume and notable blocks in trading.
Rockwell International plans an additional 1500 layoffs, targeting hourly staff this week and salaried workers next. President of the Los Angeles Division Bashan Hello warned that mid year only about half the current project workers may remain, with possible plant closures in Palmdale and El Segundo if business does not resume.
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