Word: wall
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Dates: during 1950-1959
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...lowest levels since 1954; the industrial index hit a 2½-year low. Next day bargain hunters swept into the market and share prices staged the biggest rise in the exchange's history, but the steam soon went out of the buying wave. As in the U.S., where Wall Street had a similar case of the shakes (see BUSINESS), prices seesawed indecisively for the rest of the week. Shares listed on the exchange lost $5 billion in paper values since the market's June peak...
Gallery Afloat. With half a dozen residences round the world to furnish, Niarchos has no shortage of wall space. El Greco's Pietà is too big (47¼-in. by 57 in.) to follow him around the world, remains in a room specially decorated for it in Manhattan. His favorite repository is the yacht Creole, which for nearly six months of the year is the Niarchos' home afloat. In the below-decks salon he hangs some of his best, has a special place of honor where he rotates his favorite of the moment-currently Gauguin...
...intense, square-jawed Chinese artist stared fixedly at the rice paper taped to the wall, his wolf-and-goat-hair brush poised in his hand like a dart. Suddenly he reached to the top of the paper, in four bold downward strokes brushed in four broad segments of a bamboo stalk. He quickly dipped the brush again in the porcelain bowl of mixed water and ink, drew a long soaring line in one continuous, caressing gesture to form the narrow bamboo shoot, then rapidly brushed in the broad leaves. In two minutes, 40 seconds the painting was completed. As Huang...
...Wall Street professionals blamed the selling spree on a whole catalogue of uncertainties: worries about the state of the defense program, trouble in the Middle East, fears that the Federal Reserve's tight-money policy might be triggering a recession. "Business is not that bad," said James Crane Kellogg III, chairman of the Board of Governors of the New York Stock Exchange. "As a matter of fact, it's good." The facts showed that business, moving at historically high levels, was indeed far better (see below) than business sentiment. Yet Wall Street, which likes to talk...
...Wall Street it was the most hectic week in years. The stock market, which has been sliding gradually downhill for three months, suddenly nose-dived and opened the week with the biggest one-day break since 1955. The Dow-Jones industrial average plummeted ten points to 423.06, lowest level since May 1955. Every major group took a beating in the slump, with drops in such stocks as Du Pont, American Telephone & Telegraph, Bethlehem Steel, Goodyear, Alcoa and all but three of the 25 rails...