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...another world monetary crisis. It is likely that other major currencies will rise in value over the next several months, leading to a de facto devaluation of the dollar. Reacting to all this turbulence, the stock market, that supersensitive barometer of economic psychology, continued to drop. The Dow Jones industrial average has fallen 72 points in a month from its all-time high of 1052. For all that, the problems may well turn out to be transitory, and 1973 still "can be a great year," as President Nixon has said-but the new turmoil indicates that it will...
...past two decades, private American investors have poured some $275 million into the Greek economy, dotting the landscape with factories bearing such names as Dow Chemical, Goodyear, Upjohn, Westinghouse. Lately, officers of Alcoa have been discussing construction of a $100 million aluminum plant...
...Eastern banks raised their prime lending rates from 6% to 6¼%. Stock traders also have been depressed by renewed weakness of the dollar overseas; within 36 hours last Thursday and Friday the West German Bundesbank had to buy $1 billion worth of greenbacks unloaded by panicky speculators. The Dow Jones industrial average dropped another 23 points during the week, to 980, down 70 points from its Jan. 11 high...
...stock market, which for years has been crowded with heavy breathers at the merest wisp of a peace rumor, inscrutably chose the session immediately following President Nixon's cease-fire announcement to stage a flounder. The Dow Jones industrial average, the most closely watched barometer, fell 14 points, its largest decline in 18 months. On Friday, the Dow closed at 1,004, off 23 points for the week and down 48 points from its high so far in what was supposed to be a banner year...
...only discordant note was the possibility of a new round of inflation. Fearing just that, investors sent the Dow Jones industrial average down 25 points in the six trading sessions after Phase III was detailed; last week the Dow Jones closed at 1026. Many economists inched up their 1973 inflation forecasts from about 3½% to perhaps...