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November 02, 1987| Arts and entertainment reports from The Times, national and international news services and the nation's press

Oliver Stone, director of the upcoming "Wall Street," says if the stock market's wild roller-coaster ride gets worse it could hurt his movie, scheduled to open in December. "It would be like having Chernobyl happen and then coming out with 'The China Syndrome,' " said Stone at a recent benefit premiere. Some movie industry observers have wondered if the film might seem out of date by Christmastime, since it's about life at the stock exchange in the midst of a bull market. Stone maintains the "shadow of the crash is there, but it's not an Apocalypse scenario."

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