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Economy: Stock Market / World Market / Wachtel Interview #182024

ABC Evening News for Monday, Aug 31, 1998
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(Studio: Charles Gibson) Stock Market Report. Today's huge drop in the market outlined.

(New York: Bill Redeker) One of the worst days in years on Wall Street reviewed; scenes shown from the market floor; NYSE and Nasdaq losers listed. [Salomon Smith Barney Marshall ACUFF - says the blue chips are under pressure.] The concern over global markets noted. [Morgan Stanley Dean Witter Bill SULLIVAN - says a flood tide of money is going to bonds.]

(Studio: Charles Gibson) Report introduced.

(New York: Betsy Stark) The psychology behind the market drop examined; details given of the reaction to the Russian economic collapse on the heels of the Asian economic crisis. [Council on Foreign Relations Walter Russell MEADE - likens market investors to pigeons; says the battle for Latin America is on.] How United States exports could be affected by a crisis in Latin America and the importance of United States consumer spending detailed.

(Studio: Charles Gibson) Interview held with Prudential Securities senior vice president Larry Wachtel about the stock market. [WACHTEL - gives the background to this correction in an ongoing bull market.]

Gibson, Charles;
Redeker, Bill;
Stark, Betsy

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