New Selling Wave Causes Pessimism
NEW YORK, Mon. (1 p.m.)—A sudden wave of selling on the stock market today sent prices to a four-year low with a total loss of $1,000,000,000. It was one of the worst slides of the year. Some leading issues lost only a few cents a share, but losses on others ranged up to $2. Many sold at postwar lows. ' Wall Street reported nothing startling in the week-end news to account for the decline, but the stock market is in the pessimistic mood created in recent weeks by the steady flow of unfavourable business developments. Dismissals at industrial plants are spreading. Unemployment generally is increasing. ■ Price cuts are more frequent and total personal income is lower.
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Northern Advocate, 14 June 1949, Page 5
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120New Selling Wave Causes Pessimism Northern Advocate, 14 June 1949, Page 5
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