Word: rising
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Dates: during 1980-1989
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...further market declines could bring on a recession. For companies that had been planning to issue new stock or for young firms hoping to go public, the impact of the Black Monday crash was immediate and devastating. Many were forced to put their plans on hold until stock prices rise substantially, and they faced the unsettling possibility that a renewed bull market might not occur anytime soon...
Since then, the Chicago Mercantile Exchange has imposed a limit on the amount that an index futures contract can rise or fall in a single day. The Merc has also increased the amount of cash, or margin, that speculators must put on deposit. Congressional investigators are talking about additional safeguards to limit the number of futures contracts a broker could execute in a day. But at hearings last week in Washington, Merc President William Brodsky argued that the sale of index futures had a stabilizing effect on Black Monday. Without that escape valve, Brodsky suggested, the Dow would have fallen...
...moment the bulls held sway -- barely -- despite the scorching they received on Black Monday. Their derring-do sent the Dow Jones industrial average up 42.77 points last week, to close at 1993.53. Fueled mainly by 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...
...budget summiteers could also save an estimated $24 billion in the next three years by freezing the annual cost-of-living adjustments for Social Security payments. That is not likely: just last year, when the Consumer Price Index failed to rise by 3%, the amount necessary to trigger a cost-of-living increase, Congress went ahead and voted an $8.6 billion hike anyway...
Tokyo traders called it the week of haran, or turbulence. On Monday the value of the 225-stock Nikkei share index exchange fell 1,096 points, the third biggest loss ever. But after the slide, the Nikkei climbed by 731.15 points on Friday, its third biggest rise ever, and an additional 563.87 points on Saturday. Controlling the effects of the second-week crash posed a substantial challenge for the lame-duck government of Prime Minister Yasuhiro Nakasone, who hands over power on Nov. 6 to his successor, Noboru Takeshita. Following Monday's precipitous slump, the Japanese Finance Ministry quietly pressured...