Stocks Slump On Korean Peace Move
NEW YORK, March 24 t/P).ÛÓ General MacArthurÛªs peace bid to the Chineses Communists, inspired a selling wave in the stock marketj that forced prices down by morel .than $3 a share.</br></br>Most sharply hit were the rails,; i aircrafts, steels, and motors. Not' a single major segment of the market was able to make hoad-Iway against the downward trend.</br></br>| Nervousness was apparent in ! the market from the start of todayÛªs two-hour session. Traders felt their way along cautiously, and then apparently everyone dc-icidcd at once to sell.</br></br>Wall Street does not believe there will be a major change in the United States rearmament program if the Korean war turns from hot to cold.</br></br>But, it is pointed out, the | emphasis on rearmament might well shift from war goods to civilian needs, and there could be changes in taxes, Government controls and the campaign against inflation.