Investment: All Roads Lead to Wall Street

Wall Street's tremors reverberated last week through Rome's Via Parigi, Rio's Avenida Rio Branco and Hong Kong's Queen's Road Central. With tens of thousands of non-American investors holding stakes in the U.S. stock market, foreign trading on the New York Stock Exchange rose from $5.8 billion in 1961 to $7.8 billion last year, when it accounted for more than 5% of all Big Board transactions. One reason for the market's weakness is that the foreigners have been selling. Last year they sold $409 million more than they bought, largely because the British...

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