Word: bearish
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...rolling of their own. Tokyo's Nikkei average sank to 15,498 points, its lowest level in more than six years, while the London stock exchange fell 2.3% and Frankfurt shares dropped 5.4%. New York's Big Board sank 46 points, or 1.4%, in a week of generally bearish trading...
...which corporations retire their bonds by giving lenders corporate stock. That strategy was employed by furniture maker Interco, which last week announced that it will swap 95% of the stock in the company for $400 million worth of its bonds. But selling equity has become difficult in the bearish stock-market climate, and stockholders in troubled corporations often protest new issues that would dilute the value of their shares...
...macho Ronald Reagan. Not so, says political scientist Ethel Klein of Columbia University: "Women and men are now taking a different lens to politics." What many women see through their glass is a less hospitable vista than men perceive. Polls show, for instance, that women are consistently more bearish on the economy than men, often by a margin of a dozen points or more. Perhaps because they earn less than men and have less job security, they feel more vulnerable to hard times. Women are also more inclined to believe government action is needed to ward off economic threats...
...alone. As usual, the market's jump caught most people by surprise. A May 7 Business Week story titled "How Low, Dow Jones?" had one pair of bears answering: 1000. That same day Howard Ruff's newsletter explained that "the momentum chart is very bearish. Every other major stock index has fallen below its longterm optimal moving average, making it nearly impossible for the Dow not to soon follow suit. Watch out below!" Mutual funds were sitting with record amounts of cash. Individuals had sold vast numbers of shares short, anticipating a decline...
...been confined mostly to Tokyo, but the anxiety could prove contagious; in the interconnected global economy, a downturn in Japan would tend to drag down other countries as well. On Wall Street, the Dow Jones average fell 37 points last week, to close at 2704.28, reflecting concern that bearish Japanese investors could pull back on their U.S. holdings. The Japanese Finance Minister, Ryutaro Hashimoto, declared on Friday that he was "extremely concerned" about the drop of the Tokyo market and the yen, which has fallen 7% against the dollar since mid-February. At week's end Hashimoto...