THE ECONOMY: A Change in the Wind?

As the stockmarket has gone steadily down, Wall Streeters have commented sardonically that Stock Exchange President Emil Schram has been the only businessman to reduce prices. But last week even this pinch-of-salt joke lost its savor. Waves of selling pushed many blue-chip stocks down to new lows for the year, caused others to fall as much as seven points in one day. U.S. Steel slipped more than four points, Chrysler more than nine points, rock-bedded A.T. & T. nearly five points. By week's end the Dow-Jones industrial average had fallen 8.31 points to 163.21,...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!