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Article: Business Highlights
- Article from:
- AP Online
- Article date:
- September 18, 1998
CopyrightThis material is published under license from the Associated Press. All inquiries regarding rights should be directed to the Associated Press. (Hide copyright information)
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AP Online
09-18-1998
WASHINGTON (AP) _ America's trade deficit climbed to $13.9 billion as the global financial crisis cut deeper into sales by American farmers and factories, pushing exports down for a fourth straight month.
While the Clinton administration urged joint efforts to ward off a worldwide recession, financial markets tumbled in disappointment Thursday, a day after Alan Greenspan squelched hopes of coordinated interest rate reductions among major countries.
The Dow Jones industrial average fell 216.01 points to close at 7,873.77, pushing it back below where it started the year. The 2.7 percent plunge in the Dow followed a 2.4 percent fall in Tokyo's main stock index, ...