STATE OF BUSINESS: Signs of Uncertainty

Uncertainty over settlement of the steel strike and tightening money last week alarmed many an investor, and the stock market suffered a sharp selloff. The Dow Jones industrial average dropped 9.90 points to 645.90, lowest since June 29. then rallied at week's end to close at 652.18.

Although there have been few deeply noticeable effects of the steel strike thus far. signs of its impact on the economy are now beginning to appear. The Commerce Department reported that in July, manufacturers' shipments and new orders declined. Total adjusted manufacturing sales in July...

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