Dollar Stocks Plunge Amid Deficit Debate and Market Turmoil
U S stocks and the dollar tumbled as fears over deficit cuts and inflation rattled investors. The Dow fell over 76 points while Tokyo's Nikkei slumped then rebounded, with central bank actions cited for stabilizing the dollar and markets elsewhere reacting to Washington's deficit deal uncertainty.
MENTIONED IN THIS ARTICLE
Dow
Tokyo Stock Exchange
Japan
London Stock Exchange
Wall Street
Washington
Dollar Dives to Record Lows Against Major Currencies
The dollar slid to record lows versus the yen, mark, and other currencies as experts cited waning faith in U S deficit reduction, inflation fears, and concerns that Third World debts threaten global growth.
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New York
U.S
Court to eye gas deregulation
The Supreme Court agreed to review a lower court ruling on natural gas price regulation. The Reagan administration contends the ruling forces the government to set minimum gas prices improperly.
MENTIONED IN THIS ARTICLE
Washington
Supreme Court
Reagan
Reagan backs deficit deal on all or nothing basis
President Reagan defended the budget deficit reduction compromise with congressional leaders saying it must be considered on an all or nothing basis. He warned he could veto a bad tax bill and stated the agreement would preserve national defense as the US pursues arms control talks with the Soviet Union.
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Reagan
Congress
Washington
United States
Soviet Union
Fresh foods fuel commodity hike in November
The Agriculture Department reports a 3.1 percent rise in commodity prices for November driven by higher fresh fruit and vegetable prices. Lettuce oranges tomatoes corn and soybeans led gains while hogs and cattle prices fell, reversing October's 1.6 percent drop, according to the Agricultural Statistics Board.
MENTIONED IN THIS ARTICLE
Washington
Agriculture Department
USDA
Agricultural Statistics Board
FAA tightens rules on airline maintenance delays
The FAA announces tighter maintenance rules aimed at curbing delays by airlines including Eastern and others. A review of about ten major carriers will determine if federal maintenance standards are being abused, with potential penalties for noncompliance.
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Washington
Federal Aviation Administration
FAA
Eastern Airlines
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