Word: lows
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Dates: during 1990-1999
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...work and out of patience trying to find it. So residents spend their time sitting outside and getting the lay of the land by scoping out passing cars. They see somebody in an old clunker and know the rider's just scraping to get by in another low-wage gig. They spot somebody in one of those jazzed-up numbers, a sport-ute or a low-riding classic, and it's a good hunch the occupant is a roller in the drug game. In the end, of course, it doesn't really matter much how passersby earn their keep...
...seeks to overthrow the Saudi royal family and drive U.S. forces out of Saudi Arabia, away from its holy cities, Mecca and Medina. Bin Laden is nearly everyone's favorite suspect this time too--largely because he is the obvious one. Newsday reported on Sunday that a relatively low-level associate of bin Laden may have been identified by an embassy guard as having been in the truck carrying the bomb in Nairobi. Clinton aides are looking at contingency plans for covert operations to capture bin Laden from his reputed high-tech lair deep inside Afghanistan...
That cost is growing. Last Tuesday the yen hit a new low--about 147 to the U.S. dollar--and the region hiccuped with pain. The cheap yen was a strong signal to investors who were betting that Asia has farther down to go before it takes any steps up. On international markets, it was the yen slip that triggered the attack against the HKD. During a weeklong run-and-gun battle between speculators and the Hong Kong Monetary Authority, the peg remained firm. (The HKD is pegged to the U.S. dollar at a ratio of 7.8 to 1.) A defiant...
...survey the bidding. The market low (based on closing prices) for the past five months was reached Friday. The average NASDAQ stock was down 39% from its 52-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...
...Low inflation and interest rates help explain these valuations. But even the trusty "rule of 20," which takes inflation into account, has been trashed. The rule holds that the market P/E plus the rate of inflation should total about 20, as it has for most of the past 40 years. With inflation running at 1.7%, today's reading is 23, and when calculated using reported rather than expected earnings, it jumps to 29--well above the 26 reached on that basis just before the 1987 crash, notes analyst Richard Bernstein at Merrill Lynch...