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Stock Market #106104

ABC Evening News for Monday, Oct 26, 1987
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(Studio: Peter Jennings) Report introduced.

(NYC: Stephen Aug) Drop in stock market reported [Broker Jeffrey LLOYD - calls it a slow death.] [MAN - refers to orderly sell-off.] Stk. Mkt. Report Extent of Dow drop despite preaching of calm brokerage hses. over wkend. detailed. [Merrill Lynch chairperson William SCHREYER - says we have confidence in market] Companies having biggest losers graphed on screen. Need for government action on budget deficit noted. [New York Stk. Exchange floor supervisor Ken WILSON - says we're waiting for government response.] [Merrill Lynch chief econ. Don. STRASZHEIM - says investors want a credible plan for economy] Shorter Wall Street trading days to enable traders to catch up announced. Issue of how deep stock market drop to be and when it will stop noted.

(NYC: Dan Cordtz) Fall of prices in Tokyo, Japan, and Hong Kong stock mkts. shown on screen. Criticism of shutdown of Hong Kong stock market reported [Hong Kong exchange chairperson Ronald LI - threatens to sue questioner.] Fall of prices in London, England and Frankfurt, West Germany mkts. shown on screen. Role of computers in turning worldwide stock mkts. into one global market discussed. [US Institution for International Econs. spokesperson Stephen MARRIS - calls drop a necessary correction to market; calls for action of United States budget deficit.] ["London Evening Standard" Anthony HILTON - says American leadership must do something about deficit.] For. investors' lack of confidence in United States government reiterated.

Aug, Stephen;
Cordtz, Dan;
Jennings, Peter

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