WALL STREET: Casting a Vote of Less Confidence

Suddenly, it seemed, the stock market had become a kind of political poll, one that pointed down, down, down —down on Ford's chances of staying in the White House, down on Carter's populist economics, and down, or at least doubtful, on the strength of the nation's economic recovery. As the election approached and investors caught the jitters, the calm but healthy bull market that developed with the onset of recovery last year seemed to have been taken over by the bears. In five days of busy trading last week, the 30 stocks of the Dow...