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Article: Stock Market Takes Biggest Nose Dive Yet;Dow Falls 108 Points in Frenzied Trading
- Article from:
- The Washington Post
- Article date:
- October 17, 1987
- 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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The stock market took its deepest plunge yet today-108.36 points
on the Dow Jones industrial average-in frenzied trading, capping a
disastrous week that left many on Wall Street battered, poorer and
nervous about what may lie ahead.
The Dow's decline, which took it to 2246.73, eclipsed
Wednesday's drop of 95.46 points, the previous record for a one-day
loss. For the week the Dow dropped 235 points, or 9.5 percent.
Investors and analysts attributed today's heavy retreat to
snowballing fears that the stock market's huge five-year rally may be
ending. They also worried that the sharp selloff may roll into other
financial markets around the world or undermine the growth of the
U.S. economy.