Monday, Jul. 24, 1950

Nosedive

The New York Stock Exchange last week buzzed with rumors. Brokers scurried from one trading post to another, picking up each other's guesses on whether credit controls, allocations and perhaps some cutbacks in civilian production were in the offing. The market, already jittery from the war, took another sharp nosedive. The Dow-Jones industrial average dropped eleven points, to a bottom of 197.44, setting the market back to the level of six months ago.

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