The prancing bull market in stocks was stopped dead in its tracks last week.
In two hectic days the Dow-Jones averages of industrials tumbled to 156.34down 5.18 points. Rail averages were down 2.23 points. On Friday, when traders unloaded 2,000,000 shares, the drop in values was the sharpest for any day in 16 months.
The sudden break sent market analysts rushing for paper & pencil to explain what had happened. A few pundits saw great significance in the fact that one wave of selling swamped the market minutes after the ticker had flashed...
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