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Stock Market / Economy / Energy #260421

CBS Evening News for Wednesday, Oct 10, 1979
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(Studio) Busiest day on stock market reported Federal Reserve Bd. action tightening money supply to slow inflation noted. Jump in gold prices overseas and dollar drop reported Inability of United States to deal with domestic problems said feared by some. STK. MKT. REPORT given.
REPORTER: Walter Cronkite

(NYC) Mkt. scenes shown. Busy day described. Dow Jones said down. [INVESTORS - speak of losses.] [Stkbroker. Howard McLAREN - speaks of small investor's fears.] [Stk. Mkt. analyst Robert STOVALL - compares President Carter to Herbert Hoover.] 1929 repeat said not possible. Federal Reserve action feared to cause depression and serious credit shortage.
REPORTER: Gary Shepard

(Studio) Admin. said blaming economy condition on foreign oil. [CARTER - outlines US oil purchases for year; speaks of employment and inflation. Urges energy legislature]
REPORTER: Walter Cronkite

Cronkite, Walter;
Shepard, Gary

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