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Article: Market Plunge Cooled Foreign Investment
- Article from:
- The Washington Post
- Article date:
- February 11, 1988
- Author:
CopyrightThis material is published under license from the Washington Post. All inquiries regarding rights should be directed to the Washington Post. (Hide copyright information)
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Foreign investors, who helped propel the long bull market in
U.S. stocks, began dumping their shares when the market plunged on
Oct. 19 and continued to sell more shares than they bought for the
rest of the year, according to the Securities Industry Association.
In the final three months of 1987, foreigners were net sellers of
$7.8 billion worth of U.S. equities, marking the first such shift in
three years.
In November alone, foreign investors were net sellers of $6.7
billion of stocks. That was a dramatic reversal of earlier trading
patterns; until October, foreigners had been net buyers of an
average of $2.6 billion of shares a month.
Foreign investment in U.S. equities, especially ...