Wall Street: Foul Weather & Fair Forecasts

The 1966 stock-market decline is hitting more people harder than any in history. At least 21½ million Americans directly own corporate shares; another 100 million indirectly have a stake in the market through their holdings in mutual funds, pension funds, profit-sharing funds and the like. Last week the Dow-Jones industrial average tum bled again, by 30 points to 744, lowest since 1963. So far this year the market has plunged 25%, causing a loss of $120 billion, or an average of $2,000 for every U.S. family. These are euphemistically called paper losses — but in many instances they...

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