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Acrophobia set in at about 1:45 p.m., when sell orders began flitting through the exchange's super-DOT computer circuits in bunches of 1,000 to 2,000 shares each. Among the hardest-hit blue-chip stocks were 3M, which fell 7 1/4, to 126 3/4; Du Pont, which dropped 4, to 95; and Philip Morris, down 1 1/2, to 81. Some traders attributed the rout to the news of a statement by Federal Reserve Chairman Paul Volcker that a legislative stalemate on banking deregulation could endanger the U.S. banking system...
...Biden and former Arizona Governor Bruce Babbitt, who have more on their mind than hoopsters, decided it was the place to be on Sunday. Others are likewise discovering the joys of Iowa in January. New York Congressman Jack Kemp was there twice last week, and former Delaware Governor Pete du Pont is going there this week to tell farmers how he plans to phase out commodity price supports, then heading to New Hampshire for his fifth visit in five months...
...discuss uniting behind one candidate early on. Meanwhile, skeletal campaign organizations were adding expert meat to their bones. Babbitt last week became the first Democrat to form a full-fledged campaign committee. In the past fortnight senior strategists also took posts in the campaigns of Kemp, Du Pont, Gary Hart and Richard Gephardt...
...week's end maritime workers and the government reached a provisional accord containing concessions for the strikers. The rail strike continued unabated, however, and France's largest labor group, the Confederation Generale du Travail, called for stoppages in public utilities and Paris bus and Metro service to support demands for higher wages and work-rule changes. The deepening confrontation came just weeks after Premier Jacques Chirac bowed to student protesters in December by withdrawing plans to reform France's universities...
Along the avenue, portals framed in warm black terrazzo give access to the internal galleries. Here, Aulenti has done marvels with adjustment of scale to image. Each space suits its contents, whether one is looking at Daumier's 36 clay caricature heads of the Celebrites du Juste- Milieu, no bigger than grenades and as lethal, whose passionate violations of the human face would so deeply affect Giacometti a century later, or at the large, suave, marmoreal forms of Ingres and early neoclassical Jean-Leon Gerome...