Word: dowing
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That was enough to give the commentators plenty to chew on through the long wait on Monday. The day began with an NBC poll showing Clinton's job approval at an all-time high, 70%. The markets were happy too: the Dow jumped 150 points. The weather in Washington was baffled, raining and shining and raining again through air that defied you to breath it. On "Monica beach," the 50-yd. stretch of White House gravel where the TV reporters do their stand-ups, 35 bright umbrellas sprouted like mushrooms, and the pressroom was packed despite a complete absence...
...YORK: Russian fears gave Wall Street another jittery ride Friday. The Dow veered wildly between a 150 point drop and a 60 point-climb, ending the day off by 114. Europe was in an ambiguous mood, too. At one point investors couldn't get their money out of stocks -- and into bonds -- fast enough. British, German and French exchanges all tumbled more than 4 percent in early trading, before word from New York helped to recoup around half those losses. Still, nobody is able to put the ruble's woes completely out of their mind. The price of gold...
...YORK: For the Russian economy, it's all over but the doomsday, and that's what traders prepared for Thursday by pushing the Dow down 257 points -- and the NASDAQ 81 -- by the close of trading. "The Russian economy is in total collapse," says TIME business reporter Bernard Baumohl, "and although U.S. traders have very little direct exposure to it, they're very nervous about what could happen to Europe, Asia and Latin America if the political system goes with...
...seems illogical that a group of money sharps acting half a world away could have any effect on the seemingly bulletproof U.S. economy. But the stock market's swoon--the Dow industrial index was off some 450 points in the past two weeks--is directly linked to the deepening trouble in Asia, which represents only 30% of American exports but about 100% of American worries. Cheaper Asian goods, made possible by currency devaluations, have caused the U.S. trade deficit to balloon: America is buying more from the Pacific rim and selling less. While that's good for companies like...
...week high, and the average stock on the New York Stock Exchange was down 30%, according to Salomon Smith Barney. The average decline in stocks of very small companies (market value under $250 million) was a staggering 47%. Those are major losses, masked by the more visible Dow decline of just less than...