Week's Losses Worst in 2 Months: Mart Near 1960 Low
NEW YORK, Sept. 17 (AP)ÛÓAn uncertain stock market sank to its worst weekly loss in nearly two months and came very close to its 1960 lows this week.</br></br>The market continued to reflect disappointment at lack of a snappy business upturn this fall and chagrin at growing dimness of economic forecasts. For instance, steel industry sources which not long ago confidently predicted a pickup in production by October, now donÛªt expect a substantial rise until possibly March, 1961.</br></br>The stock market took severe losses oh three trading days and did little of anything on the other two.</br></br>The most significant thing from the viewpoint of Wall Street analysts was the decline for the fourth time this year to the 1960 lows. On the three previous occasionsÛÓin March, May and JulyÛÓstocks rallied sharply after sinking to the vicinity of 600 in the Dow Jones</br></br>This week, the market came down to the support level once again but instead of mounting a vigorous rebound, merely dawdled.