Interest Rates Get Blame For Fall

Thu., Aug. 19, 1999

From Staff

While Internet stocks soared on the promise of a strong Christmas, the broader market slumped Wednesday due to a more immediate event, a possible interest rate increase next week.

The Dow Jones industrial average fell 125.70.

Concerns that the Federal Reserve will raise interest rates to prevent inflation from accelerating have hurt stocks and bonds over the past month, dragging market indicators well below the records reached July 16.

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Interest Rates Get Blame For Fall

Jesse Tinsley

Jim Meehan

Molly Quinn

Rob Curley

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