Word: dow
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...slumping and surging prices. Businessmen fretted over whether Carter's "disciplined" new effort to make money and credit scarcer and more costly would pitch the economy into recession for real, or if it would perhaps be swept aside by another onrush of inflation. On Wall Street, the Dow Jones average of 30 leading industrial stocks dropped 23 points on the first day after Carter announced his program. It then bounced back and forth before finally closing out the week down 26.5 points at 785, its lowest level since April...
...inflation rates going to 20% or more in the next few months, creating an environment in which reasonable planning is impossible. The jitters have unhinged the investment markets. As recently as mid-February, stocks were widely considered a hedge against inflation and thought to be grossly undervalued. The Dow Jones industrial average hit a high of 904 on Feb. 13. But since then it has tumbled 92 points, to 812; nine points of the decline came last week. The average is now lower than it was 16 years ago. Would-be investors fear that accelerating inflation is making corporate profits...
...which range from huge pension funds to modest-income individuals. The investment banking house of Morgan Stanley estimates that bond values have plunged by more than $500 billion in the past six months, a drop of about 20%; an equivalent slide in the stock market would have sent the Dow Jones industrials down by about 160 points. Last fall investors paid $1 billion to buy new IBM bonds; they are now worth about $750 million...
...prime rate on loans to business to 17¾%, and a big bank in Chicago went up to 18%. The rate on U.S. Treasury bills, a risk-free investment, shot to 15%, vs. 10% only last September. The stock market shivered and sank through a nervous week. The Dow Jones industrial average plunged to 821, down 43 points for the week and 83 points since 1980's high of 904 reached only a month...
...Reutershan, a veteran who was suffering from cancer of the colon, filed suit in 1977. He died the next year, at age 28, but by then Victor Yannacone Jr., the lawyer who had brought the 1966 suit that helped ban DDT, had taken up his case. The defendants are Dow Chemical Co., Monsanto Co., Thompson-Hayward Chemical Co., Hercules Inc. and Diamond Shamrock Corp...