The Boston Globe, September 16th, 2001
How much suspense attends tomorrow's reopening of stock markets? The shocking events of last week resemble, in more ways than one, the lead-up to the famous market break of October 1987, when many people feared the worst. Share prices nearly melted down, before settling for a one-day loss of around 22 percent. The next day threatened to be even worse, until the Federal Reserve Bank of New York indicated it would extend the web of its protection beyond the traditional banking system to investment banks as well. That was the last time markets threatened to close unexpectedly - and then trading s...
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