ABC Evening News for Thursday, Oct 22, 1987
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(Studio: Peter Jennings) Report introduced.
(Studio: Stephen Aug) Decision by New York Stk. Exchange to cut back number of trading hrs. for next 3 days reported [New York Stk. Exchange spokesperson Richard TORRENZANO - says time needed to process huge order flow.] Chaos resulting from large number of orders this week discussed. [Associate director Bears Stearns Peter CANELO - says we can't read too much into fluctuations of market because market process has been strained.] Role of "market makers" in stock market and how they have been overwhelmed this week detailed. [Broker Fidelity Trading Debbie PETRASEK - notes problems in executing orders.] [MEN - favor cutback in hrs.] Stk. Mkt. Report Response of stock market to comments of forecaster Robert Prechter and to activities in Persian Gulf noted. Mkt. noted to be still unsettled, but not chaotic.
(Studio: Peter Jennings) Role of computers in handling stock trading reported Report introduced.
(NYC: Dan Cordtz) How stock trading actually transacted featured; details given, scenes shown. Historical film of stock market shown. Steps in computerized transactions detailed. Taxing of the capacity of this computerized system noted.
(Studio: Peter Jennings) Anchor's discussion of cutback in market hrs. with vice-chairperson New York Stk. Exchange William Schreyer. [SCHREYER - says decision to cutback hrs. is common sense; says investors must stay calm and wait for market to recorrect itself; calls for straight talk from President Reagan about deficit and trade.]
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