Business and Finance
CLINTON UNVEILED an industrial policy in which the government would explicitly back the development of commercially useful technology. The president's plan would shift billions of dollars from military research to civilian purposes, and also fund a variety of projects in manufacturing, next-generation automobiles and computer networks.</br></br>The president's tax package appears to give a big boost to capital-intensive companies rather than to the service sector, causing worry that the plan won't generate 500,000 new jobs. Several new Democratic members of Congress expressed concern about the absence of deeper budget cuts.</br></br>---</br></br>A sharp bond market rally sent interest rates plunging. The yield on the Treasury's 30-year bond fell to 6.93%, its lowest level in 15 years. Stocks were mixed, with the Dow Jones industrials climbing 20.81 points to 3342.99. But over-the-counter issues tumbled.</br></br>---