ACTION IN THE FINANCIAL MARKETS
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KEY INDICATORS AT A GLANCE BRITISH STERLING IN DOLLARS News that Britain would enter the European Community’s exchange-rate mechanism sent the pound soaring against the dollar Friday Close: 1.9630 DOW ON THE HALF-HOUR The Dow Jones industrial average opened down nearly 60 points on news of the budget failure but recovered on renewed hopes for lower interest rates.
Thursday Close: 2,516.83 Friday Close: 2,510.64 down 6.19 30-YEAR TREASURY BONDS Already-wary investors continued to shun treasury bonds. The benchmark rate was affected only slightly by the budget news.
Friday Close: 8.81%
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