A boost in short-term interest rates by the Federal Reserve sent the financial markets into a tizzy on Apr. 18, with yields of 30-year Treasuries climbing to 7.42%. Leading banks raised the prime rate to 6.75%. The stock market reacted with dismay, with blue chips hit hardest. The Dow Jones industrials fell 41 points, to 3620, and continued to fall during the next two days. But options traders were strongly bearish--a positive con-trarian indicator.
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