Magazine content is available exclusively for TIME subscribers.Wall Street: Mass Exodus
After a few days of relative calm on Wall Street, investors last week decided again that the stock market was no place for their money. Rushing in with sell orders that pushed volume on the New York Stock Exchange up to a frantic 6,240,000 shares, they knocked the Dow-Jones industrial average down to 560.28 on Thursday. June 14. It was the lowest close since December 1958. Next day there was a predictable rebound, as short sellers moved in to replace at bargain prices stock that they had borrowed when it was higher. Even so, the Dow-Jones index rose only...
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