Word: belling
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...last hour of trading on Thursday, Oct. 23, 1929, stock prices suddenly plummeted. When the closing bell rang at 3 p.m. people were shaken. No one was sure what had just happened, but that evening provided enough time for fear and panic to set in. When the market opened again the next day, prices plunged with renewed violence. Stock transactions in those days were printed on ticker tape, which could only produce 285 words a minute. Thirteen million shares changed hands - the highest daily volume in the exchange's history at that point - and the tape didn't stop running...
...then came Black Monday. As soon as the opening bell rang on Oct. 28, prices began to drop. Huge blocks of shares changed hands, as previously impregnable companies like U.S. Steel and General Electric began to tumble. By the end of the day, the Dow had dropped 13%. So many shares changed hands that day that traders didn't have time to record them all. They worked into the night, sleeping in their offices or on the floor, trying to catch up to be ready for October...
...story goes, the opening bell was never heard on Black Tuesday because the shouts of "Sell! Sell! Sell!" drowned it out. In the first thirty minutes, 3 million shares changed hands and with them, another $2 million disappeared into thin air. Phone lines clogged. The volume of Western Union telegrams traveling across the country tripled. The ticker tape ran so far behind the actual transactions that some traders simply let it run out. Trades happened so quickly that although people knew they were losing money, they didn't know how much. Rumors of investors jumping out of buildings spread through...
...even if the West were to go for McCain, he would still need a strong turnout - though not necessarily an outright victory - in the suburbs of Philadelphia like Downingtown, Blue Bell, Yardley and Bensalem, which are traditionally Republican-friendly, but have been trending Democratic for a decade. Though he has spent most of the campaign appealing to the conservative base, McCain has been sure to highlight his maverick streaks to appeal to more moderate Republicans and independents in this area...
...honor of the Superheroes Dance—an event held last Friday night to raise money for cancer research—the Bat Signal shone on Lowell Bell Tower. From 10 p.m. until 2 a.m., dancing, student group performances, and gourmet cupcakes filled Lowell Dining Hall. The event, organized by Matthew Bird ’10, Heidi L. Hirschl ’10, and Ethel D. Bressman ’10, featured The Harvard University Drummers and EXP, the traveling members of Expressions. Their goals were simple: raise money for cancer, give student groups an outlet to perform, and show...