Word: crashing
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Dates: during 1990-1999
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Phillips, whose primary concentration isastronomy and intends to spend this summer at theUniversity of Arizona watching a comet crash intoJupiter, says, "I find the physics itself kind ofdry but once I get into an astrophysics coursewith applications, I find the physics much easierto learn...
...turmoil in the bond derivative market, which has persisted since February, has troubled Wall Street watchers because it bears some of the hallmarks of the 1987 stock-market crash. That 508-point plunge on Black Monday was worsened by so-called portfolio insurance, which is computerized programs designed to bail investors out of stocks in a downturn by selling stock futures. But few buyers were willing to come forward while so many others rushed for the exits, and the decline accelerated instead of slowing down...
...circuit breakers that temporarily halt automated transactions when the Dow Jones average rises or falls more than 50 points in a day. But even if the mechanisms work temporarily, some experts caution that all the computerized derivatives and other vehicles that Wall Street has developed since the Crash of '87 could keep shell-shocked buyers from returning to the market, out of fear of a new wave of selling. "A circuit breaker shuts off the overload," says Bruce Greenwald, a finance professor at the Columbia Business School and a staff member of the Brady Commission, which studied the Crash...
...Russian Crash Explained...
...such experts as these are puzzled, what are new investors to make of the tailspin? That question worries market professionals more than almost anything else. Since the 1987 crash gave way to a new boom, millions of investors have put a few thousand dollars each into the market, mostly by way of mutual funds. The great majority are getting their first bitter taste of a down market. If they panic and sell out, they could turn a downward spiral into a genuine crash...