Word: crashing
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Dates: during 1990-1999
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...something resembling panic throughout the financial world. Stock prices sank rapidly in New York City, Tokyo, London, Paris, Frankfurt. At the lows on Thursday, shares of all U.S. stocks had lost more than $600 billion in paper value in slightly over a month, more than in the Black Monday crash of October 1987; on the Tokyo exchange, cumulative losses since the start of the year came to well over $1 trillion. Bond prices dropped in sympathy, sending interest rates spiraling; the yield on bellwether U.S. Treasury 30-year bonds Thursday hit an extraordinary 9.13%, the highest since April...
Nowhere is the potential upswing in financial fortunes more dramatic than in Texas. In the late '70s, when oil reached $34 per bbl., Northerners fumed while Energy Belt entrepreneurs got rich. The decline of oil prices and the collapse of inflated real estate values culminated in the 1986 crash that battered the state economy. Even though Texas is diversifying to lessen its dependence on oil production, the state could benefit once again from high- cost fuel. In new revenues alone, each $1-per-bbl. increase would bring $50 million into state coffers. Stephen Brown, a senior economist for the Federal...
...outgoing NATION editor, Terry Zintl, is enduring a crash course in Italian to prepare for a change of scene as Rome bureau chief. During his five years in the section, Zintl brought an expansive outlook to the job, which White says will continue. "The mood and tone of the U.S. is set as much outside Washington as inside," says Zintl. "We tried to find out what our leaders were saying but also what Americans were doing." From his Rome base, he will have the even more expansive task of finding out how the people of three ancient cultures -- Italy, Greece...
While details of the agreement were not revealed, it appeared that Yeltsin, who was elected chairman of the Russian republic's parliament in May, had won a round. Gorbachev reportedly accepted, in principle at least, a program for switching to a market economy within 500 days -- the kind of crash program he has resisted because he felt the country was not ready for it. The accord was worked out in the Russian parliament, not in the President's inner circle. Radicals saw the development as a sign of their strength. Said Moscow Mayor Gavril Popov, who favors rapid change: "This...
...apart. Of all my family and friends, she was the one who hung in there." In fact Burns has had a couple of setbacks in life, both impossible to conceal, and handled them with admirable determination and reserve. In high school her face was badly cut in a car crash, and it took several operations to repair the damage. Years later, just before she was to be married to a man well known in the cosmetics business, his company announced that it was suing him for fraud. Says Burns: "I can tell you that these were painful situations...