Word: crashing
(lookup in dictionary)
(lookup stats)
Dates: during 1980-1989
Sort By: most recent first
(reverse)
...assailed, and they together specifically reaffirmed the Louvre agreement. But it was much too late to calm the unrest Baker's previous statements had intensified. Well before he patched things up with the Germans, selling on the world's stock exchanges had accelerated into an all-out crash...
...buyers start looking for newly cheap shares. The rally in the middle of last week was given particularly powerful support by some 200 major corporations that started buying up their own stock at bargain prices, in part to keep it out of the hands of would-be raiders. The crash put at least a temporary damper on mergers and acquisitions anyway. Several deals fell through because the bids made for the target companies suddenly looked unrealistically high after the general decline in stock prices...
...result is that America has run up a foreign debt of about $250 billion. Economists across a broad spectrum of ideological positions warn almost with one voice that this situation is precarious in the extreme. Foreigners will not continue forever to finance American profligacy, and the stock-market crash was a relatively mild foretaste of what could happen if they pull their money out. The nation would then face a grim choice of financing the deficit by ruinous printing-press inflation or a sudden, brutal cutback in spending that might trigger a real economic bust...
...close of trading, the chief of staff and Duberstein called at the Oval Office to give Reagan a market status report. But prices were tumbling too rapidly for anyone to keep track of them. Reagan, as his later statements indicated, simply did not know what to make of the crash...
Tony Cafazza, 46, owner of a St. Louis company that sells and services cash registers, rang up profits even as the crash began. Cafazza had sold his stock holdings during the previous three months, for a profit of $100,000. Then, in September, he bought so-called puts on General Motors -- options to sell the company's stock at a fixed price in the future. On the Friday before Black Monday, as GM stock nose-dived 4 7/8 points to close at 66, Cafazza cashed in his options, which soared in value because their set purchase price was higher than...