CBS Evening News - 1997-10-27
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Read a transcript preview of “CBS Evening News - 1997-10-27” from malgent, uploaded on 2025-11-10.
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Language: English (YouTube automatic captions)
[0:02] The Asian markets are about to reopen
[0:04] after Monday's madness. Stock prices
[0:08] plunged on Wall Street. Trading came to
[0:10] an early and abrupt end after the Dow
[0:13] suffered the biggest point drop ever,
[0:15] more than 550 points. The White House
[0:18] calls for calm.
[0:22] This is the CBS Evening News
[0:26] with Dan Rather reporting from CBS News
[0:29] headquarters in New York. Good evening.
[0:33] This never happened before. Trading was
[0:35] automatically stopped on a kind of
[0:37] tripwire trigger on the New York Stock
[0:39] Exchange today. And thus, the market
[0:41] closed a half hour early after prices
[0:44] plummeted. The Dow lost 554 points, the
[0:48] biggest 1-day point drop ever, closing
[0:52] at 7715. Over on the Nasdaq, filled with
[0:55] high-tech stocks, the index plunged 115
[0:58] points, also a record. President Clinton
[1:00] is urging calm and reason, saying the US
[1:03] economy remains very strong. CBS will be
[1:06] devoting much of this broadcast to
[1:07] telling you what happened today, why it
[1:10] happened, and what it may mean for you
[1:12] and your family. We begin with one of
[1:13] the world's most experienced economic
[1:15] reporters, Ray Brady. Ray,
[1:17] >> Dan, if you really want to know what it
[1:18] was like in the stock market today, you
[1:20] only had to stand outside the New York
[1:23] Stock Exchange at closing time.
[1:26] >> They came out of the stock exchange with
[1:28] faces blank, weary, classy eyes.
[1:31] >> It was a killer.
[1:34] >> It sure was. Never before had the Dow
[1:37] Jones Industrial Average plunged this
[1:39] far down. down 554 points. All told,
[1:43] according to the Wilshire Index,
[1:45] investors in all stock markets today
[1:47] racked up a total lo