Word: dowe
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Dates: during 1970-1979
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...businesses: Exxon ($28 million-417,015 shares) and Rockefeller Center ($25.5 million-325,000 shares). Next come IBM ($19.9 million-103,635 shares) and Eastman Kodak ($11.9 million -148,524 shares). Others: Standard Oil of California ($11 million-449,558 shares), General Electric ($2.8 million -72,648 shares) and Dow Chemical ($1.5 million-26,031 shares...
...biggest reaction came in the stock market, which has been grasping all summer for firm signs of abatement in interest rates and inflation. The Dow Jones industrial average, which only two weeks ago plunged to a twelve-year low, soared most of last week, gaining 47 points until it cooled off and lost 3 points on Friday, closing...
...every person in the U.S. for 2½ years. Needham makes it clear, of course, that the gap will never really show up, but will instead take the form of soaring interest rates, burgeoning unemployment and rampant inflation. The actuality is hardly consoling. Nor are current market conditions. The Dow Jones industrial average of stocks plummeted 51 points for the week, to a close of 621-the market's lowest point since November 1962. At that level, the collapse has wiped out 15 years of investment gains, and the average is no higher than it was in early...
Even if Friday's rally should continue, share prices have a long, long way to climb before investors can feel flush again; at last week's close, the Dow was more than 35% below its alltime high of 1051, reached on Jan. 11, 1973. The plunge has occurred not because of any enormous wave of selling but through a day-to-day crumbling of prices on moderate volume-"panic on the installment plan" in the words of Wall Street's gallows wits...
...dive of the Dow index, which is made up of 30 blue-chip issues, only begins to tell the story. Since the January 1973 highs, the index of all shares traded on the New York Stock Exchange has fallen 42%, the index of all issues on the American Stock Exchange has plunged 46%, and a popular average of over-the-counter stocks (those not listed on an exchange) has plummeted 54% (see chart). And this has occurred at a time when all other prices have been rising. Market Analyst Raymond F. DeVoe of Spencer Trask & Co. figures that share prices...