Word: peak
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...large institutional investors, the rise was the first feeble recovery following the back-to-back record weekly drops of 235.48 and 295.98 points earlier this month. Even so, the market's comeback is nascent, to say the least. The Dow now stands 729 points, or 27%, below its August peak of 2722. In terms of lost value, U.S. stocks remain $850 billion below their recent high. Moreover, while many big shots may be persuaded that the market is safe to re-enter, the general population will not soon forget the spectacle of Wall Streeters in a panic. Consumer confidence shows...
...self-awareness movement confirmed Wolfe's originality. Unlike the reigning intellectuals of the day, he took American mass culture at face value, though not with a straight face. His New Journalism combined the skills and stamina of an ace reporter with the techniques of fiction, and it reached its peak in The Right Stuff, the 1979 recounting of the lives and times of the Mercury astronauts...
...feet, it seems, can make a difference. Last March, George Wallerstein, an astronomer at the University of Washington, stunned mountaineers and geologists by declaring that the Himalayan mountain known as K-2 might be 36 ft. taller than Mount Everest, long thought to be the world's highest peak. This month, however, an eight-man Italian expedition, led by Geologist Ardito Desio, 90, refuted that claim. Using satellite signals and surveying techniques, they found that Everest towers 29,108 ft. above sea level -- 80 ft. taller than previously believed and 840 ft. higher than...
...almost double the record 12.8% fall on Oct. 28, 1929. Despite a spirited rally on Tuesday and Wednesday, the Dow was still down an unprecedented 295.98 points, or 13.2%, for the week. That immediately eclipsed the record 235.48-point decline the market had suffered the previous week. From its peak of 2722 in August to its Friday close, the average has fallen 28.3%, burning up an estimated $870 billion in equity values. Volume for the week was inconceivably greater than ever before, totaling 2.3 billion shares on the Big Board; the four heaviest trading days in New York exchange history...
Donald Trump could not resist crowing. The flamboyant Manhattan real estate developer confided to journalists last week that he had foreseen the end of the long bull market in August, when the Dow Jones industrial average neared its peak of 2722. Trump, 41, had accordingly cashed in the bulk of his stock holdings, some $500 million worth of shares in Allegis, Holiday Inns, Bally Recreation and other companies. As Black Monday loomed for less fortunate investors, the tycoon claimed he had made a net profit of some $200 million. Now, Trump declared, he intended to "stay in cash...