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Market sinks to 13 month low as investors fear Reagan program
UPI reports sluggish week on Wall Street with the Dow down 16.36 to 892.22, the NYSE index at 71.97 and S&P 500 at 1240. Declines outpaced advances 4,773 to 202 as traders monitor the Reagan plan and inflation risk. Some signs of a rebound emerge as rates ease and money supply falls $37 billion, while analysts warn sentiment hinges on late year policy outcomes. Pan American World Airways leads active issues with Acker named CEO at 342. Cities Service eyes merger talk. Superior Oil slips amid resignations. Union Pacific down 6.42 to 5.27.
MENTIONED IN THIS ARTICLE
UPI
Oe York
Wall Street
Fi Reserve
Standard & Poor
Fed
NYSE
Pan American World Airways
Edward Acker
Air Florida
Cities Service
Superior Oil
Union Pacific