Search the Archive

Stock Market / Downward Spiral / Johnson Interview / Hong Kong #411970

CNN Evening News for Monday, Oct 27, 1997
View other clips in this broadcast →

Material supplied by VTNA may be used for educational analysis or research only. Any editing, reproduction, publication, rebroadcast, public showing or public display may be prohibited by copyright laws.

(Studio: Bernard Shaw) Report introduced.

(New York: Allan Dodds Frank) The downward spiral on the stock market triggered by bad news from the Hong Kong stock market featured; scenes shown from the exchange floor. [Balestra Capital president James MELCHER - says the market is too high.] [Salomon Brothers head of emerging markets Desmond LACHMAN - comments.] The trading stoppage noted. [Paine Webber market strategist Mary FARRELL - says the market should not have been closed to trading.]

(Studio: Judy Woodruff) Interview held with New York Stock Exchange president William Johnson. [JOHNSON - reacts to speech from Treasury Secretary Robert Rubin; explains why the market correction happened today; suggests what investors should do about their portfolios.]

(Studio: Hilary Bowker; Hong Kong: Mike Chinoy) The likelihood that there will be another wild day on the Hong Kong market and the importance of "the peg" for currency discussed.

(Studio: Bernard Shaw) Report introduced.

(White House: John King) The reaction of President Clinton's administration to the market slide examined. [Treasury Secretary Robert RUBIN - outlines what happened in the market; states that the economy is fundamentally strong.] The president's announcement of low budget deficit figures mentioned and the reasons why Clinton himself did not speak about the market discussed.

Reporter(s):
Bowker, Hilary;
Chinoy, Mike;
Frank, Allan Dodds;
King, John;
Shaw, Bernard;
Woodruff, Judy
Duration:
00:09:20

Note to sponsor members: The Vanderbilt Television News Archive video player requires a modern operating system and browser to work properly. If you are experiencing playback problems, check the minimum requirements and adjust your setup accordingly. After adjustments, if you continue to experience problems, please contact us.

Welcome! Above is the abstract of the item that you're interested in viewing from the Vanderbilt Television News Archive's collection. You have three options if you'd like to view this item:

  • You may request a loan of this video by registering on our website and placing an order.
  • You may visit the Television News Archive on the Vanderbilt campus to view on-site from the Archive's collection.
  • If you are associated with a college or university, you may ask your library if they would like to become a sponsor, which would give students and faculty at your institution the ability to view items from our collection.

If you believe that you are associated with a sponsoring college or university and have received this message in error, please let us know.