Stocks Again Skid; Trade Quiet
NEW YORK. Juno 28 cAP) ÛÓFor the second consecutive day the stock market today sank to a sharp loss. Trading was moderate.</br></br>Brokers blamed apprehen-ision over tightening credit and rising interest rates for the erosion of prices, j Some analysts said indications were that the market was headed for a test of its iMay lows but they said low volume on declines was at least a heartening factor.</br></br>1 Some key issues suffered losses ranging up to 5 points iand dragged the averages (down. Others which had been I weak in early trading were 'able to pare their losses and in some instances turn them into small gains.</br></br>The Dow-Jones average of 30 industrials fell 8.07 to 880.90, just about equal to its loss yesterday. The Associated Press 00-stock average de- clined 2.1 to 311.2 with industrials off 4.5. rails off .7 and utilities up 1. Standard & PoorÛªs 500-stock index, which represents 85 per cent of the quoted value of all stocks listed on the New York Stock Exchange, dropped .41 to 85.G7.</br></br>(United Press International reported the average of all NYSE stocks traded today was off 0.43 per cent from the previous dayÛªs close. Using April 1. I960 prices as a 100 base, the indicator closed today at 96.69.)