Word: dowe
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Dates: during 1990-1999
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...their gains--a trend that has helped sustain prosperity. But the "wealth effect"--the term economists use for the urge to splurge when we feel rich but to pull back when we feel poorer--could pound the economy if we see more days like last Tuesday, when the Dow Jones industrial average dropped 299 points. It was the Dow's third-largest single-day fall, though in percentage terms it was not among the 100 biggest drops. "People feel they've got so much money [in stocks] that they can go out and buy that new house or car," says...
...With the Dow still dropping, traders will be watching the Export and Import Prices report tomorrow for confirmation of what we all suspect: that economic problems and weaker currencies in Asia are causing cheaper goods to flood into the U.S. while weakening the markets for domestic goods and services abroad...
...YORK: The Dow was up again on Wednesday morning. In Japan, the yen has stablilized. So your sagging portfolio is finally safe, right? Wrong. TIME Wall Street columnist Daniel Kadlec believes that the bargain-hunters who've been buying since Tuesday's nadir (which represented a 10 percent correction of the Dow's July high) will be disappointed with their purchases. "Just because the stocks are cheaper, doesn't mean they're cheap," he says. "According to fundamental measures, we're still in nosebleed territory. The markets are still in a lot of trouble...
...trend is down. "People haven't made money in the market for four or five months," says TIME's Wall Street columnist Daniel Kadlec. "The average stock is down 25 percent since the year's high. Smaller stocks are down 40 percent. This is a real correction, whether the Dow trips 10 percent...
...error occurred while processing this directive] Inexplicably, it was the most inflated stock of all -- Internet companies -- that bucked the trend Tuesday. In the face of a 300-point Dow plunge, Amazon.com and AOL managed to close with small gains. "You would expect the mania-type stocks to be hardest hit," says Kadlec, "but there's still a lot of high expectations surrounding the Internet." A correction is a correction nevertheless, and Kadlec believes the tech bubble will burst soon enough. Indeed, AOL dropped three points amid Wednesday's rally. Don't say we didn't warn...