Word: crash
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Dates: during 1980-1989
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Unemployment is near a 14-year low. Inflation has been cut to about a third of its pace in the early 1980s. Interest rates are only half as high as eight years ago. The U.S. economy shrugged off the October 1987 stock-market crash to record a sixth straight year of growth, a feat unprecedented during peacetime. So why, given the fact that pocketbook issues eventually dominate almost every presidential campaign, is George Bush not running away with the election...
...divestof stock from compnaies doing business in SouthAfrica, which led to a policy of selectivedivestment. Harvard in 1986 divested about $157million in South Africa-related stocks--about athird of its holdings at the time. That total hassince fallen to about $200 million, in partbecause of the October stock market crash...
...says Curtis Beusman, owner of a sports-medicine clinic in Mount Kisco, N.Y., and he is not talking theory. During the past several years, Beusman has dumped $300,000 worth of stock, more than 80% of his holdings. He is far from alone. Eleven months after last year's crash, most individual investors are avoiding stocks as if they were poison. Some Wall Street executives fear that many of these investors may be leaving the market for good, to the detriment of brokerage firms and future bull markets. Says Hardwick Simmons, vice chairman of Shearson Lehman Hutton: "The small investor...
Such widespread avoidance of Wall Street is producing some painfully quiet days for traders. A year ago, volume on the New York Stock Exchange often exceeded 200 million shares a day. Since the crash, it has typically reached just 160 million shares. Meanwhile, the Dow Jones average has drifted down from a high of 2169.45 three months ago to a low of 1978.66 during August. Last week the stock market was buoyed somewhat by a sharp improvement in U.S. trade: during July the spread between exports and imports narrowed to $9.5 billion, down from a $13.2 billion deficit the previous...
Princeton's alumni gave about $1 million less than expected, in part because of last October's stock market crash, Spies said. But while he said that the crash certainly had played a major role in causing the university's deficit, he was not sure what effects the crash had on the budget...