Stocks fall sharply as sliding consumer confidence hurts investor confidence too
By APTuesday, February 23, 2010
Sagging investor, consumer confidence hurt stocks
WHY DID CONSUMER CONFIDENCE HURT STOCKS: It wasn’t just the big, unexpected drop. The number was the latest in a string of bad news on consumers.
WHAT ELSE UPSET THE MARKET: Retail earnings this week pointed to slow sales growth. That means consumers aren’t expected to spend heavily.
WHAT’S AHEAD: The market will be watching Federal Reserve Chairman Ben Bernanke, who gives his assessment of the economy to Congress Wednesday and Thursday.
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