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Word: indexes (lookup in dictionary) (lookup stats)
Dates: during 1980-1989
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Usage:

Traders at the 100-year-old exchange remain nervous. The market's index sinks 6.7%, from...

Author: /time Magazine | Title: The Crash: A Shock Felt Round the World | 11/2/1987 | See Source »

Spirits are still high on the floor from Wednesday's lively market. Yet the Toronto index skids 142 points (4.3%) in the first hour. "This is like a yo- yo," laments one trader...

Author: /time Magazine | Title: The Crash: A Shock Felt Round the World | 11/2/1987 | See Source »

...wafts through the exchange: Iran is about to accept a cease-fire in its gulf war with Iraq. High-tech stocks like Matsushita and Fujitsu take off. But the Japanese government cannot confirm the report, and stocks retreat. In the final hour, a wave of panic selling drives the index down by 1203.23 points, to 23,201.22. It is Tokyo's second worst one-day beating ever...

Author: /time Magazine | Title: The Crash: A Shock Felt Round the World | 11/2/1987 | See Source »

Program trading came into its own in 1982, with the advent of stock-index futures. These enable investors to make a bet on which way the entire market is going. Index futures, used with program trades in the stocks on the index, open up a variety of opportunities. One of the most popular takes advantage of momentary differences between the price of a futures contract and of the stocks themselves. When this spread is sufficiently wide, a trader can lock in a profit at no risk by, say, buying the futures and selling the underlying stocks. This practice, called index...

Author: /time Magazine | Title: The Crash: Are Computers to Blame? | 11/2/1987 | See Source »

...Monday because the computers that track prices had fallen hopelessly behind. The real culprit was a variation of program trading called portfolio insurance. This is a defensive strategy designed to protect stock portfolios against market downturns. Rather than sell stocks as their prices are falling, portfolio insurers sell stock- index futures. If the decline persists, the futures can be repurchased at a lower level, yielding a substantial profit that will offset some of the loss sustained on the stocks. But traders who buy the futures hedge their positions by making computer-aided sales of the underlying stocks, driving the market...

Author: /time Magazine | Title: The Crash: Are Computers to Blame? | 11/2/1987 | See Source »

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