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Article: The stockmarket engine runs out of steam. (money supply) (Finance)
- Article from:
- The Economist (US)
- Article date:
- October 13, 1990
CopyrightCOPYRIGHT 1990 Economist Newspaper Ltd. 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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FOR once this year, stockbrokers have had something to cheer about. The world stockmarket index bounced back 6.4% in the week ending October 5th. That still left it a quarter below January's all-time high, but it was the biggest weekly rise since 1984-with virtually all markets except Sydney making gains. In the following week the stockmarkets lost some of their gains-thanks to renewed worries about the Gulf, higher oil prices and America's huge budget deficit. However, a few shell-shocked brokers are beginning to mutter that markets may have bottomed out.
That probably says more about the battering they have suffered in 1990 than any inner logic. Since their ...