Word: beared
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Last week's turmoil on Wall Street was the latest in a summer-long slide that has knocked almost 740 points, or nearly 8%, off the Dow index since July 17, a decline that economists call a correction. (A 20% drop signals a "bear market.") But a deeper and quieter sort of stock decline has been under way much longer, particularly among smaller companies. For example, the Russell 2000 Index of small-capitalization stocks has fallen nearly 5% since January. Investors have been seeing these declines for some months in their brokerage statements. So as they survey the carnage...
...vulnerable--Asia, Lewinsky, stock prices that are historically high relative to earnings--what set off last Tuesday's rockslide was one of those oft-quoted gurus, Ralph Acampora of Prudential Securities, who reversed his prediction of a day earlier and said on CNBC that we may be entering a bear market for blue chips. The Dow Jones 30 industrials shed 300 points in a flash. But the real pain came Wednesday, when the market dropped an additional 100 in the time it took me to get a Diet Coke out of the office fridge. That took us down 10% from...
...should be jubilant that Clinton was broadcast live on Chinese TV and radio. He was able to state the case for human rights very clearly in a historic forum, and his message will bear fruit over the next 10 years. China is far from perfect, but we should not look down on its human-rights record without recalling the U.S.'s own version of Tiananmen Square: Kent State, where the National Guard shot at students protesting the Vietnam War. SUSAN MANN La Jolla, Calif...
...about how we see ourselves. It's how we're good when we're very good--with overwhelming force. Our great cars aren't about engineering elegance. No, we start with a 490-cu.-in. V-8. In combat, from the Civil War to Desert Storm, we bring to bear massive, ineluctable power. If that approach can't be done (Vietnam comes to mind), that's not a good American...
...fact that he has provided Bulls-obsessed Chicagoans--at least for the moment--with a distraction from their nervous preoccupation with the future of Michael Jordan and the rest of the world champion hoopsters. "The fans around here are crazy about Sosa," says Ron Stampley, manager of the Cubby Bear, a popular sports bar near Wrigley Field. "They cheer for him as loudly as they cheer for Jordan." Indeed, Sosa's slugging streak, along with wunderkind pitcher Kerry Wood's arm and first baseman Mark Grace's hot bat, is helping to make the long-hapless Cubs into contenders...