Word: ticker
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...Shots. But most Americans took it pretty much in stride-and many could even find humor in the situation. Chicago's Creative Research Associates Inc. interviewed nearly 200 ticker watchers, reported that 76% of them believed the market shakedown had been inevitable. In Los Angeles, an elderly investor laughed as he looked at the worried faces in front of a stock board. "Some of them got caught short on margin, you know," he chuckled. "They got burned plenty bad. I'll bet they won't try and be big shots again with somebody else's money...
...particularly the amateurs among "small investors" who put their money into the market at or near its peak and sold out at last week's low. Not since the dread year of 1929 had trading been so heavy (average daily volume: 10,000,000 shares) or the ticker tape lagged so late. Before the week was over, delays of an hour or more in the tape became routine, and one night the final Dow-Jones averages were not calculated until five hours after the market's 3:30 close...
...Pont 12½ to 202½, A.T.&T. 11 to 100⅝. So irrepressible was Blue Monday's selling pressure that more than 4,000,000 shares changed hands in the final 30 minutes of trading, and the last transaction did not clear the ticker tape until 2½ hours after closing. In the second bleakest day in Wall Street's history, the Dow-Jones industrial index plunged 34.95 to 576.93-21% below its peak of last December...
...stocks listed on the Big Board plunged by $30 billion - which is more than the combined gross national product of Australia, Sweden and Ireland. At week's end mighty IBM had fallen from its October high of 607 to 398∧ "X" marked the spot on the ticker tape where U.S. Steel was down from last year's high of 9¼ to 52¼. As wave after selling wave buffeted blue chips and glamour stocks indiscriminately, the Dow-Jones index of 30 key stocks tumbled almost 39 points last week to 611.88, the lowest level since...
Volume rises another 50% to 5,450,000 shares, and so many sell orders swamp the ticker that it lags behind for two hours and 28 minutes. A total of 460 stocks sink to new lows for the year. The Dow-Jones index loses another 9.82 points, to 626.52, its lowest in 16 months...