Dow plunges 140 points on interest rate fears
Friday 28 March 1997
By the close, the Dow was off an ominous 140.11 points at 6,740.59. The sudden loss - at its worst yesterday, the average was down no less than 214 points - will leave traders and investors anxious about the direction the market will take on Monday after the three-day Easter break.
Analysts said the sell-off had been prompted by concern over a continuing rise in interest rates in the credit markets and worries that stocks may soon lose out in competition with bonds. At the close, the yield on the benchmark 30-year US Treasury bond had climbed to 7.08 per cent.
Some traders cautioned against pessimism, however. Many suggested that as the market began suddenly to drop many of those who might have stepped in to buy and reverse the slide had already taken their eyes off the market and left for home and the Easter break.
- 1 Rihanna 'nude photos' claims emerge on 4Chan as hacking scandal continues
- 2 Frank Lampard equalises for Manchester City against Chelsea: how Twitter reacted
- 3 Stamford Hill council removes 'unacceptable' posters telling women which side of the road to walk down
- 4 Kim Kardashian 'nude photos' leaked on 4chan weeks after Jennifer Lawrence scandal
- 5 Hitler’s former food taster reveals the horrors of the Wolf’s Lair
350 skinny dippers brave Northumberland seas for record attempt at mass naked swim
Rihanna 'nude photos' claims emerge on 4Chan as hacking scandal continues
Kim Kardashian 'nude photos' leaked on 4chan weeks after Jennifer Lawrence scandal
Jennifer Lawrence leaked 4Chan sex video branded 'fake' by forum users
Hitler’s former food taster reveals the horrors of the Wolf’s Lair
Scottish independence referendum: A nation divided against itself
Scottish referendum results: Cross-party consensus collapses amid Tory-Labour spat on the 'English question'
Scotland could still declare independence – even without referendum, says Alex Salmond
Scottish independence: David Cameron is becoming the 'George Bush of Britain'
Hilary Mantel 'should be investigated by police' over Margaret Thatcher assassination story, says Lord Bell
Plebgate MP Andrew Mitchell called officer a 'little s**t', claim court documents 'exposing ex-Chief Whip's 'record of abusing police'
iJobs Money & Business
Up to £80000: Saxton Leigh: My client, a large commodities broker, is looking ...
£80 - 100k + Bonus: Guru Careers: A COO / Chief Operating Officer is needed to...
£400 - £450 Per Day: Clearwater People Solutions Ltd: **URGENT CONTRACT ROLE**...
Up to £100k or £450p/d: Saxton Leigh: My client is a leading commodities tradi...