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April 04, 1994 - Image 2

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Publication:
The Michigan Daily, 1994-04-04

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2 -- The Michigan Daily - Monday, April 4, 1994

KOREA
Continued from page 1
issue in Korea," Perry said yesterday
on NBC's "Meet the Press." "But we
will take a very firm stand and strong
actions. It's conceivable where those
actions might provoke the North Ko-
reans into unleashing a war, and that
is a risk that we're taking."
Perry said the CIA believes that
North Korea already has as many as
two nuclear bombs.
"I know they're lying when they
say they're not developing a nuclear
program," Perry said. "I do not know

SKATING ON ROCKY GROUND

they're lying in saying ... they could
very well conceive that having a
nuclear-free peninsula would be to
their advantage."
The United States and the United
Nations have been pressing North
Korea to allow international inspec-
tors to examine its nuclear sites. North
Korea has given no public indication
that it is willing to do so.
In the meantime, the United States
and South Korea have postponedjoint
military exercises - although Perry
said both sides were discussing a
schedule yesterday.

Protester disrupts Easter
service for Clinton family

WASHINGTON (AP) - An
AIDS protester shouting from the
balcony disrupted the Easter Sunday
church service attended by President
Clinton, his wife and daughter.
Two Secret Service agents sitting
in a pew directly behind the Clintons
jumped to their feet and shielded the
couple after a man shouted from the
church balcony, "Save your prayers
for Bill Clinton."
The disruption occurred about
midway through the service at the
Foundry United Methodist Church,
just after a reading and while the

congregation was silent.
The protester, who the Secret Ser-
vice identified as Luke Sissyfag, also
shouted, "Where's the Manhattan
Project ... for AIDS?" referring to
Clinton's campaign promise to mount
a federal AIDS program of that mag-
nitude.
Sissyfag was led out of the church
by parishioners. Secret Service
spokesman Dave Adams said Sissyfag
agreed to go downtown with agents to
be questioned. But, he added, "No
threats were made against the presi-
dent."

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HOMOSEXUALITY & CHRISTIANITY
A Public Debate on
the Morality Question
Friday, April 8, 1994, 7:00 to 9:30 pm
-continuing-
Saturday, April 9, 1994, 9:30 am to 5:00 pm
'+ Modern Languages Building, Aud 3 4
~What is the basis of morality?
- What does this basis teach us about homosexuality?
How should the Church and the State respond?
Speakers Include:
George F. Beals, MA. Minister with and
representing the Saline Church of Christ
Thomas Saffold, M. Div. Local American
Baptist Pastor and Activist
Frances Mayes, MS, MTS. Pastor,
North Rome Baptist Church, Onsted.
Member, Tree of Life MCC, Ypsilanti
Supported by: Guild House, the Lesbian-Gay Male Programs
Office, P-FLAG, and area churches.

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NEW YORK (AP) - The worst
may not be over for the U.S. stock
market, pummeled last week by a
barrage of economic and political
news that investors have increasingly
viewed as omens of rising inflation
and uncertainty.
Many professionals don't rule out
a renewed selling assault today when
the market reopens from a three-day
Easter weekend. But others say the
respite gave investors an opportunity
to rethink the impulse of dumping
stocks. Some forecasters are even ex-
pecting stocks to rebound somewhat.
"I think it's hard to know," said
Marc Chandler, research director at
Ezra Zask Associates, a money man-
agement firm in Norfolk, Conn.
"We've seen some indiscriminate sell-,
ing. That's created some buying op-
portunities."
Sellers overran the market last
week, depressing the Dow Jones in-
dustrial average by nearly 139 points,
or 4 percent, from the week before.
The best-known barometer of U.S.
stock prices, which now stands at
3,635.96, is off more than 8 percent
from its all-time high of 3,978.36
reached Jan. 31.
Broader measurements of stock
values also tumbled last week, a pos-
sible sign that a 3 1/2-year-old Wall
Street rally is undergoing or has un-
dergone what strategists call a correc-
tion, or a pullback to more realistic
levels.
A key reason for the drop has been

the Federal Reserve's moves to raiss
short-term interest rates Feb. 4 and
March 23, reversing a five-year strat-
egy of keeping rates low to stimulate
the economy. The Fed has said inter-
est rates must be raised to thwart
inflation, a step that ought to reassure
investors.
But the Fed aroused the opposite
reaction by creating uncertainty over
when interest rates will stop risingm
That means strong economic news
has been viewed with increased ap-
prehension in the financial markets;
Last week, for example, stocks and
bonds tumbled on a report of rising
consumer confidence.
The market's behavior was com-
plicated by the Good Friday holiday,
when the Labor Department said job
creation surged in March, another
possible warning of higher inflation:9
Investors had to delay their reaction
until today.
Further complicating the picture
is today's release of another potential
market-moving piece of information,
a monthly assessment of the manu-
facturing economy by the National
Association of Purchasing Manage-
ment, a trade group. If its report shows
unexpectedly strong March growth or*
much higherprices paid by factories for
raw materials, the market could fall.
Against the backdrop of fear over
higher interest rates and inflation,
political concerns have crept into Wall
Street's collective thinking as pos-
sible reasons to sell.

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