Injunction Stay Sends Stock List Reeling: Dow Index Plunges 7.10
NEW YORK, Oct. 22 CAP)ÛÓA further stay of the Taft-Hartley injunction against the striking steelworkers today sent the stock market to its'sharpest loss in a month.</br></br>Blue chips reeled under heavy selling at the close. The ticker tape was as much as 4 minutes behind transactions in the final 12 minutes of tradir^.</br></br>This last selling wave was sparked by news that Federal judges had delayed enforcement of the back-to-work injunction until next week.</br></br>Earlier the market shrank back from a moderate early advance as news came that an indefinite stay had been granted pending a decision on the union's appeal against use of the injunction.</br></br>age stocks had a bull market of their own, some rising sensationally on hopes of greater spending and. apparent^ in satisfaction over the shift of the Army missile unit to the civilian space agency.