Steels Lead Downturn
NEW YORK, Aug. 28 CAP)ÛÓEnough, prc-Labor Day jitters hit the stock market today to bring about a fair-sized decline.</br></br>The approach of the three-day weekend, traditionally a dividing line for the course of business and the stock market, occasioned precautionary selling.</br></br>Steels led the way in the downturn and coppers, depressed by lower prices at the custom smelter level and the copper scrap market, also helped.</br></br>Though trading was faiuly active, the turnover slackened to 2,540.000 shares compared with 3.250,000 yesterday when the market approached the 1958 peak then backed away from it.</br></br>The decline placed a period after a series of seven straight daily advances on average, some of them so narrow that the market could only be described as mixed.