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Article: Big Bang's Anniversary Is a Bust for London Market;Stock Exchange Throws a Glum Party
- Article from:
- The Washington Post
- Article date:
- October 27, 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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For a birthday party, it didn't seem very happy. Called by
London's International Stock Exchange to celebrate the first
anniversary of the "Big Bang"-the October 1986 deregulation of the
financial market here-the affair happened to coincide with the
market's big bust.
The news conference that began today's festivities was planned a
month ago, when last week's crash was a largely ignored glimmer in
the eyes of a few gloom-and-doomthe eyes of a few gloom-and-doomers.
But by the time a glum-looking group of exchange officials
appeared before a roomful of reporters this morning, London indexes
already were adding to last week's losses by dropping an additional
100 points in the first four ...