Word: stockings
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Dates: during 1980-1989
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While painting this bleak picture of the American economy, Thurow said last week's stock market crash was a symptom of the underlying instability produced by our trade deficit. He said the stock market was overvalued, and crashed because of government policies designed to hold off a worldwide economic collapse...
...after another, like a series of timed charges, major events detonated through the week. Each seemed to end with a disquieting question mark, because each suggested powers beyond personal control: unhinged economic forces, irrational foreign crises, undetected illness. The stock market went into a panicked free fall. Iran launched a Chinese-made missile from Iraqi territory that hit a Kuwaiti tanker that was flying the U.S. flag in the Persian Gulf to protect, in part, Japanese oil supplies. Amid this babble of conflicting national interests, any American action, however justified, promised to inflame unfathomable hatreds. And the man with...
...blast of gloom sends the stock market plunging, war heats up in the Persian Gulf, and Nancy Reagan enters the hospital for cancer surgery. But in Texas a dedicated crew rescues a little girl from her ordeal at the bottom of a well. -- On the Republican right, a muted movement watches Bush and Dole on the rise...
...Stock-market investors were the first to feel the pain. Records fell to the stock-market floor last week like so much scrap paper. On Friday the Dow Jones industrial average plummeted more than 100 points for the first time in history, dropping 108.36. In just one day, the value of 5,000 common U.S. stocks slid $145 billion, or 4.9%. "We're all stunned. Everything happened so fast," declared Byron Wien, portfolio strategist for the Morgan Stanley investment firm. Wall Street's computer-trading mechanisms, which brought so much efficiency to a rising market, were working just as efficiently...
...after last week's spectacle, a growing number of investors are likely to put their money elsewhere. Rising interest rates on bonds are starting to siphon some big-time investors' funds away from the stock market. Many individuals are taking their market profits and putting them in banks. Says Charles Allman, editor of the Growth Stock Outlook newsletter: "I'm neither a bear nor a bull. Right now I'm just chicken." Along with a lot of others...