Business: The Bears Take Over the Stock Market

THE U.S. is in the grip of the longest bear market since World War II. Stocks have dropped almost steadily for 13 months, and in that time the listed shares held by 26 million Americans have been cut by $158 billion. Last week the Dow-Jones industrial average dropped 31 points, to 744, bringing the market to its lowest point since November 1963, just after President Kennedy was assassinated. The decline was democratic. Du Pont scraped a 15-year low. U.S. Steel traded at its 1954 level. Control Data and University Computing, among other recent glamour stocks, lost ten points or more each...

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