Investment Figures Of The Week
Fearful of further Fed tightening, fixed-income investors dumped bonds. That pushed long-term interest rates up 0.19 percentage points for the week. Short-term rates rose as well. Even Fed Chairman Alan Greenspan's Feb. 22 testimony that he wanted long rates to come down couldn't stop the sell-off. The pressure on rates sent stock prices downward, with the Dow industrials and utilities taking the biggest hits. The London and Toronto markets slumped, too. Only Tokyo showed any gain.
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