The stock market presented a puzzle. After falling in eleven out of the 15 trading days this year, the Dow-Jones industrials were down 39.62 points from their alltime high of 685.47 on Jan. 5 before leveling off slightly at last week's end. The big question: Is the drop simply the winter chill that has hit the market along about this time in each of the past three years (see chart), or a sign of something more serious?
Part of the drop was undoubtedly seasonal. January is at best a "peculiar month," said Walston...
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