Business: Scary Omens

Several important indicators of the U.S. economy flashed some of their gloomiest signals ever last week. Wholesale prices leaped a frightening 3.9% in August alone, the second biggest one-month rise in 28 years. On top of a 3.7% surge in July, it was a sure omen of more explosive inflation in consumer prices. The news sent the stock market reeling to its nadir since November 1962. Meanwhile, economic activity continues to decline. Production in the nation's factories and mines dropped .4% in August; industrial production is now almost 2% lower than last October, when the Arab oil embargo started.

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