Abstract
Stock markets around the world were jolted in 1997 by several volatile stretches in reaction to inflation worries, earnings concerns, and especially the sudden downturn in several Asia-Pacific economies, including Thailand, Indonesia, and most recently, South Korea. Despite the volatility, the Dow Jones industrial average grew more than 20% for the third straight year. And chemical stocks participated in that growth. Overall, just as in 1996, chemical company stocks last year did not keep pace with the rise of the Dow Jones, New York Stock Exchange (NYSE) composite, or NASDAQ Stock Market composite indexes. Nonetheless, they did show healthy gains. Both of C&EN's chemical stock indexes showed better growth in 1997 than in 1996. The seven-company index increased 17% in 1997, compared with 15% in 1996. And C&EN's broader 30-company index was 13% higher in 1997, compared with 9% in 1996. At the end of 1997, the Dow Jones industrial average closed at 7908, up ...
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