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U.S. Stocks Soar as `Buying Panic' Continues to Lift Market; Bonds Rise
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U.S. Stocks Soar as `Buying Panic' Continues to Lift Market; Bonds Rise
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Newspaper Article
U.S. Stocks Soar as `Buying Panic' Continues to Lift Market; Bonds Rise
1991
Overview
The U.S. unemployment rate is 6.2% and climbing. Auto sales are down. The fund that reimburses depositors of failed U.S. banks is running short of money. Corporate bankruptcies are soaring. Many market insiders say it's a \"buying panic.\" Professional investors who had squirreled away huge cash reserves are suddenly seeing stock prices taking off. They are jumping on the train for fear of being left behind. Yesterday, the Dow Jones Industrial Average soared 42.57 points, or 1.5%, to close at 2,830.94. Stocks are up more than 300 points just since Jan. 16, the day the Persian Gulf war started.
Publisher
Dow Jones & Company Inc
Subject
