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Indeed, polls are now so essential to our national life that the President's approval rating will no doubt soon join the weather and the Dow Jones Industrial Average on every news update. Can't you hear it now? "It is currently 41 degrees and overcast in Central Park. In business news, the Dow closed down 128 points today, closing at 9,104. In Washington, the President's approval rating climbed one and two-fifths to 71.6 percent, hitting a new high. Now this...
...collapse of Thailand's currency, the baht, in July 1997, after investors discovered that Thailand's economic boom was built on a base as solid as a bowl of pad Thai noodles. But the roots actually reach back further, to Black Monday, Oct. 19, 1987, when the Dow Jones industrial average shed 22.6% of its value in a single day. The market, of course, rebounded--and how. But at the time, professional investors thought U.S. stocks were due for a decade of slow-to-sluggish performance. Their eyes--and wallets--quickly alighted on the world's so-called emerging markets...
...plans for a recovery in Asia, continues to struggle with economic reform. And in the U.S., growth is more dependent than ever on the stock market--which has been powered to new highs on the back of Greenspan's interest-rate cuts during the fall. The link between the Dow and the GDP means that a major correction in the stock market could send the trio's fondest hopes into the dustbin. "They have done a masterful job so far," says Stephen Roach, a Morgan Stanley economist. "Unfortunately, in financial markets you are only as good as your last move...
...Amount the Dow gained on the day Brazil announced it would let its troubled currency, the real, float...
...President, prosecuted by the House, before the Senate, presided over by the Chief Justice, all the branches of government worshipping together for only the second time in history, and the most momentous thing about it was that it seemed to many people less important than the fact that the Dow nuzzled 9600, the NBA season was salvaged and the weather in most places turned rotten...