Word: crash
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Dates: during 1980-1989
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...commodity on Wall Street, but in Liar's Poker it makes several appearances. In 1986 the financial action begins to leave Salomon Brothers for other concerns -- and so do many of the best employees. The house that has thrived on hostile takeovers itself becomes a target. Then comes the Crash of '87, when "investors froze like deer in headlights" and hardened professionals were "helpless as they watched their beloved market...
That assessment proved unerring. After a steep drop in early trading, stocks roared back Monday to post an 88.12-point gain for the day. Then on Thursday, the anniversary of the 1987 crash, the Government reported that the Consumer Price Index rose a modest 0.2% in September, propelling the market to a 39.55- point gain. The Dow closed at 2689.14 Friday, up a record 119.88 points for the week. In Tokyo the Nikkei index lost 647.33 points Monday but surged more ! than 1,000 points in the next four days to finish the week...
FANS of big, thick black headlines have had a lot to be happy about in the last week or so. First, the stock market threatened to crash, and then the earth in California quaked. That's the most disaster that American newspapers have had to play with since the Challenger explosion. And both of last week's stories included double coverage potential: the business and sports sections, respectively, got to echo the front page...
...real World Series is set to resume on Friday. On the other hand, seismologists say the real San Francisco earth-quake is still set for the coming decades. As for the stock market crash--well, the economists don't know. If the real crash ever does come, George Bush may well manage to stay aloof. Most of the rest of us, though, won't be able to afford to cheer...
BUSINESS: The stock market posts its worst loss since the '87 crash as Friday the 13th stirs panic on Wall Street...