Concerned that the Federal Reserve was going to tighten credit again, investors pushed the Dow Jones industrial average down more than 32 points on Monday and Tuesday last week. The market spent the next three days trying to catch up, but didn't make it. The Dow closed the week at 1,225.26, down 16.43 points.
Over the first half of the year, however, the bulls continued to have a happy time. In the second quarter ending June 30, the Dow was up 91.93 points, for an 8.14 percent increase. For the first six months, the market gained 175.42 points , or 16.76 percent.