Word: dows
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Dates: during 1990-1999
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WASHINGTON: Alan Greenspan got a worldwide round of applause Thursday for his appearance on Capitol Hill Wednesday. Indexes in Japan, Hong Kong and South Korea -- economies where a rate cut would provide badly needed breathing room on foreign currency debts -- all followed the Dow's Wednesday lead with hefty spikes of their own. U.S. markets then settled into a leisurely sell-off Thursday, with traders apparently shelving some of those buy orders until after next week's policy meeting...
...says TIME business editor Bill Saporito: "Getting Japan to do something -- anything -- about the $1 trillion in bad loans that have paralyzed the banking system." And although Japanese investors were hopeful, boosting the Nikkei by 1.42 percent Tuesday and bolstering the yen's value against the dollar, the Dow, which at midday languished 50 points in the red, indicated no such optimism. "Japan is a consensus society -- it takes a long time to accomplish anything," says Saporito. "Clinton and Obuchi can have all the summits they want, but the work to be done is in Japan, not New York...
...Dow Jones Industrial Average closed at7895.66 on Friday, far below its July high of9337.97...
...Clinton performed miserably in his first public ceremonies of repentance, but then last Friday, at the White House prayer breakfast, delivered at last a persuasive peccavi, mea culpa. It was fascinating to watch the President's speech with a window at the bottom of the television screen showing the Dow Jones average moving like an electrocardiogram. The Dow was in losing territory when the Clinton started speaking, and rose steadily into the plus column as he went...
...doesn't matter, because he did what we wanted. The truth is, we originally got into this thing because it's cool to watch numbers go up. That's why the Dow Jones is such a star and why it's kind of fascinating to watch the votes come in on C-SPAN, even though you don't know what people are voting on. (Come on, Dems, you lazy bums! Get to your seats and vote!) But once this chase became so big, we had to look for a deeper explanation, something greater than the obvious self-satisfaction of being...