Word: meltdowns
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Dates: during 1980-1989
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...nearly 12% by Black Monday, Oct. 19. Since the stock-market crash, mortgage rates have dipped to just below 11%, but that does not guarantee a quick recovery in the housing market. One reason, aside from the fact that many potential customers suffered big paper losses in the market meltdown: skittish home buyers may wait to see if a recession starts, and mortgage rates go down further, before deciding whether to go after their dream house...
...Board specialists. Another would assign more than one specialist to each stock, as is now the practice in the over-the-counter markets. OTC market makers thus have more money available to shore up prices. But they also have less accountability. It has been charged that in the market meltdown many over-the-counter brokers simply knocked their phones off the hook...
Chairman Phelan declares the selling binge the "nearest thing to a financial meltdown that I ever want to see." Then he tempers his alarm: "These things usually exhaust themselves...
While traders panicked and economists wrung their hands over the stock-market meltdown, the public at large seemed relatively unfazed: 70% of 810 Americans polled for TIME last Thursday by Yankelovich Clancy Shulman* said the market fall had no effect on their family's finances. Behind the general nonchalance, however, the survey found an undercurrent of anxiety: 46% said they were more worried now than before Monday's rout about America's economic future. Among the poll's findings...
Shortly before the stock market opened on Meltdown Monday, Albert Gore was on the phone to a broker. The long-shot Democratic contender was not selling short in anticipation of the wake on Wall Street. Rather, Gore was searching for political portfolio insurance: reliable information about the direction of the markets. All presidential candidates were similarly affected by ticker shock during a dizzying week in which requests for quotes sent aides scurrying after the Dow Jones industrial average rather than Bartlett...