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Article: A bull with no legs.(short bear market of summer 1998 will be followed by short-lived bull market)(Brief Article)
- Article from:
- U.S. News & World Report
- Article date:
- December 14, 1998
- Author:
CopyrightCOPYRIGHT 1998 All rights reserved. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Between doing your holiday shopping and seeing those computer-animated bug movies, you may have failed to notice that we're in a brand-new bull market--14 weeks and counting. The previous one, which started in October 1990, was mauled by this summer's bear market when the Dow Jones industrials fell 19.3 percent from July 17 to August 31.
Even though it's new, this bull isn't much improved. Since the Dow hit a record high of 9374 on November 23, it has tumbled 4 percent, including a 185-point drop last Thursday. What rattled investors again? Round up the usual suspects: turmoil in overseas markets (this time it's the plunging Brazilian currency) and worries about ...