NEW YORK -- Share prices for major issues plunged yesterday as the bellwether Dow Jones industrial average was belatedly caught in the same down draft affecting other measures of financial markets here and abroad.
In moderately heavy trading, the Dow fell 61.94 points, to close at 3,213.55, its biggest one-day drop in five months. Other major indexes posted similar declines, as more than four out of five issues on the New York Stock Exchange posted losses.
Late in the session, computer-generated sell programs further depressed prices. Throughout the day, there had been serious selling by major institutions, said Brad Weekes, managing director of Donaldson Lufkin Jenrette.