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Stock Market #553291

NBC Evening News for Friday, Oct 23, 1987
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(Studio: Tom Brokaw) Report introduced.

(NYC: Mike Jensen) [MAN - says the week was crazy, he is tired and ready for the weekend.] Losses said staggering for this week; details given, scenes shown. [Chairperson Merrill Lynch William SCHREYER - says the week has been exciting and anything but routine or dull.] Wk.'s activity graphically shown. Stockbrokers' huge commissions noted. Big brokerage houses' trying to reassure their customers through ads mentioned. Unresolved federal budget deficit said could still cause market to plunge. [Chairperson Paine Webber Don. MARRON - says the President missed an opportunity to be more specific about what can be done to settle the problem.] gross national product and consumer prices noted. Econ. growth said expected to slow because of lack of consumer confidence. Federal Reserve Bd. said will keep interest rates low. Analysts said to believe worst over.

(Studio: Tom Brokaw) Report introduced.

(NYC: Irving R. Levine) Federal budget deficit and the foreign trade deficit discussed. Experts' saying must be resolved or recession and report of market plunge will occur noted. [National Association of Mfrs. Alexander TROWBRIDGE - says there is a growing feeling that we are out of control.] Rise of interest rates and effect upon economy discussed. Cuts in government spending and commercial making that point mentioned. Social Security's exclusion from cuts noted. Possibility of defense spending being cut reviewed. Tax increase leading to factory layoffs mentioned. Trade deficit and commercial stressing the purchase of United States products detailed. Protectionist legislature's pros and cons cited. Approach of election year impeding resolution of problems noted.

Reporter(s):
Brokaw, Tom;
Jensen, Mike;
Levine, Irving R.
Duration:
00:06:40

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