Even the nimble-witted money changers admitted that it was the worst day since the dollar was devalued a year ago. A frenzied scramble sent the dollar soaring in terms of francs, guilders, sterling, yen, and at one time it sold nearly 3¢ above the gold franc parity. The pound sank to $4.83½, lowest price since November 1933. Bids for gold bloc currencies practically vanished. Wild flew reports that trade contracts were being canceled right & left, and for several hours the whole foreign exchange market was completely demoralized.
Such was Wall Street's jittery reaction...
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