The Bears of War

In the Communist credo, Wall Street provokes war because it is good for business. In the Wall Street credo, war is bad for business and for the stock market. Last week, the credo of Wall Street once more proved true. The fighting in Korea caused the worst week's break in the market in more than a decade.

In the first day's trading after the Korean fighting began, the Dow-Jones industrial average tumbled 10 points (TIME, July 3). Next morning, it looked for a time as if the worst was over. Stocks started recovering...

Want the full story?

Subscribe Now


Learn more about the benefits of being a TIME subscriber

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