Stock Market Dive Biggest in 2 Years: Dow Average Plummets 120 Points DOW'S DESCENT
NEW YORK, Nov. 15ÛÓThe stock market suffered its steepest drop in two years today as a growing concern about the nation's sputtering economy and doubts about WashingtonÛªs handling of the banking crisis prompted traders and investors to dump shares.</br></br>120.31	points to close at 2943.20 in trading described as heavy but not panicky. It was the fifth largest one-day drop in points in the Dow average, erasing more than $130 billion in stock value by one measure.</br></br>Traders and investors cited a number of diverse reasons for the plunge in prices, including reactions to news of a halt in Soviet oil exports, fears that General Motors Corp. might have trouble paying its quarterly dividend to shareholders and a congressional proposal to restrict interest rates charged on credit cards (Details, Page A18).</br></br>More broadly, experts said much of the drop in share prices was a response to evidence that the economy was not recovering as quickly from recession as the stock market had anticipated.</br></br>ÛÏWeÛªve had a huge run-up (in stock prices) over the last three months on speculation that the economy was turning arouqd. Finally, it just kind of burst,Û said Brad Weckes, a senior vice president and equities trader here at Donaldson, Lufkin & Jenrette Inc. People realized "finally . .. that the economy just has not turned around at all,Û Weekes said.