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Technology Stocks : Semi Equipment Analysis -- Ignore unavailable to you. Want to Upgrade?


To: Sam Citron who wrote (4060)7/16/2002 1:53:55 PM
From: MrGreenJeans  Read Replies (1) | Respond to of 95420
 
Sam

It's just not at all unusual for Secrataries of the Treasury to talk about the dollar and I still defy anyone to find such a quote or other news that would justify a 5% slide, let alone a 23% one over the weekend in question.

"...Another important trigger in the market crash was the announcement of a large U.S. trade deficit on October 14, which led Treasury Secretary James Baker to suggest the need for a fall in the dollar on foreign exchange markets. Fears of a lower dollar led foreigners to pull out of dollar-denominated assets, causing a sharp rise in interest rates."

Source: Bruce Bartlett, senior fellow, National Center for Policy Analysis, October 20, 1997