Stock Market Ends Week in Total Rout
NEW YOHKÛÓThe stock market finished the week in a total rout, continuing the broadest, steepest extended decline that analysts can remember.</br></br>A drop of 15.07 in the Dow Jones industrial average yesterday put the weekÛªs loss at 31.96 points to close at 806.05.</br></br>ÛÏPeople are taking out their record books to see if there is anything worse in such a short period of time, and itÛªs hard to find anything,Û said Newton Zindcr. vice president for market research at E.F. Hutton. ÛÏTo</br></br>While the decline in the 30 Dow industrials has been demoralizing, they have outperformed the rest of the market, which has seen about 10 times as many stocks dropping as advancing. Yesterday, on a turnover of 39.4 million shares, only 175 issues gained on the New York Stock Exchange while 1,480 stocks declined.</br></br>The market has been dogged with worries over the plunging dollar, higher inflation and surging interest rates for the last two weeks.