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Article: Halloween Arrives Early: October can be a scary time on Wall Street for individual investors and hardened pros alike. Greenspan and inflation fears roil the market.(Allan Sloan; News of the Week)(Dow Jones Industrial Average has declined 12% from its all-time high)(Brief Article)
- Article from:
- Newsweek
- Article date:
- October 25, 1999
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Well, fans, it's time to get those Dow 10,000 caps out again. Only instead of being accompanied by cheers and champagne, as they were this spring, the caps are a sign of mourning. That's because the Dow broke 10,000 on Friday--heading in the wrong direction: down. Even though the Dow managed to stagger upward a tad to close in five-digit land, it fell a nauseating 267 points (2.6 percent) on the day, 6 percent for the week. More important, it was down almost 12 percent from its all-time high of 11,326 on Aug. 25. Since then, sentiment has changed. Instead of everything being an excuse for the Dow to rise, everything has become an excuse for it to fall.
Because ...