Business: Ticker Lightning

Last week's violent and sudden break in prices on the New York Stock Exchange, with unprecedented volume of transactions during the last hour of the trading week, brought to speculators' memories the time-honored adage: "When a big market breaks badly on good news it is a bear market; when a big market rises sharply on bad news it is a bull market."

Friday's nose-dive was nothing short of shocking to the most hardened ticker-tape readers. Saturday's pace of selling was equally alarming, especially from 11 o'clock until noon. The ticker stamped out "Good Night" at 12:35, despite use of the new abbreviated...

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