Word: dow
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...York stock market analysts blamed the tense situation in Iran for yesterday's decline of the Dow Jones average...
...curb the inflationary growth of the nation's money sup ply. But the money stock actually expanded by $2.8 billion in the first week after the "Volcker Package" was announced, and the Fed immediately began tightening credit and forcing up interest rates still further. This drove the Dow Jones index of industrial stocks down an extra 24 points last week, renewing memories of the Great Crash that occurred 50 years ago this month (see following story...
...panic selling had actually started the previous Thursday, Oct. 24. That was when the Dow Jones industrial average, having already slipped in seven weeks from its record high of 381, dropped by six points on spectacularly high volume to 299. The plunge continued on Friday, on a half-day session Saturday, and on Monday as well. But Tuesday is nonetheless remembered as the truly black day: as frightened shareholders across the country rushed to sell, trading volume soared to an unprecedented 16,410,030 shares,- the Dow tumbled another 31 points, to 230, and it was clear to almost everyone...
...DOW IN WORST DROP IN NEARLY SIX YEARS --New York Times, October...
...overreact. They're just calling up and saying, 'Sell my stuff! Get out of my position!'" His experience was not unique. At brokerage houses around the city, investors were trying to cut their losses. By 11:30, only 1½ hrs. after trading began, the Dow Jones average was off by 13 points and falling. "I wouldn't call it panic," said Steven J. Hyman, an independent, or so-called $2 broker. "Let's say it's controlled pandemonium...