Stock market has a close eye on election outcome

November 1, 1982

The week started with the Dow Jones industrial average plunging 36.33 points, its largest one-day drop since 1929, when the Dow gave up 38.33 on ''Black Tuesday.'' The Fed's failure to cut the discount rate the previous Friday was widely blamed for the market's decline. The market remained volatile the rest of the week, closing at 991.81, down 39.65 for the week.