Word: panic
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Dates: during 1980-1989
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Still, he could not help watching last month as the market withered and the value of his $8,700 investment fell to $6,600. "I didn't want to sell," he says. "I didn't want to panic." But he found himself constantly dialing Fidelity to check on his holdings. The line was usually busy. On Oct. 20, the day after Black Monday, Fidelity was fielding six calls a second. "Then it hit me: Why am I acting like this over mutual funds? They're not supposed to be exciting. They're supposed to be dull and safe." Though...
...will venture back into the stock funds. Says Edward McVey, senior vice president at Franklin Resources: "As soon as people got over the initial trauma of Black Monday, they were calling up to reverse their redemptions." Michael Lipper, president of Lipper Analytical Securities, is not quite so confident. "The panic is over," he says, "but the jury is still out on the comfort factor." Fund companies have already launched a blitz of upbeat ads and letters to shareholders in an effort to convince customers that mutual funds are still a safe and lucrative alternative to the savings account...
...will freeze. Your head will snap like an alarmed bird's and your eyes will swell, long before any practical choices begin to form between hiding under the bed and leaping to the rescue. You will freeze because you will recognize the sound. It comes from you; all the panic and the pain; all the screams of one's life, uttered and quashed, there in that dreadful eruption that has scattered the air. All yours...
...perils are enormous and the effectiveness is uncertain. The immediate challenge for the Federal Reserve and the U.S. Treasury is to control the dollar's descent -- no easy feat -- and prevent a free fall, which would scare off foreign investors, drive up U.S. interest rates and perhaps cause another panic on Wall Street. But even a gradual decline of the dollar is no panacea. It will impose hardships on the U.S. economy that cannot be easily shrugged off, and it may not help nearly as much as Treasury Secretary James Baker and the economists believe...
...call the whole thing off..." and out again, a dormouse, a lump of cloth once animate but no more, and turning to contemplate the mystery of a consciousness come and gone I to realize, thinking to my self: holy shit, I'm driving, and turning to the wheel a panic of road-leaving, a blurry desert scene suspension-crunching horror flash of scrub and a pedestrian, pale moon-faced shock, tears by, but I throw on the breaks and our tortured trusty boat screeches dustwise front-to-back to a halt...