Summary
NEW YORK -- The fear on Wall Street is that nervous consumers are going to short-circuit the economic recovery. Stocks fell sharply Friday, taking the major indexes down about 1 percent, after investors were disappointed by reports that the Reuters/University of Michigan index of consumer sentiment fell short of expectations for the first part of August.
The discouraging reading came a day after the U.S. Commerce Department reported an unexpected decline in retail sales.See the full content of this document
Extract
Spending Concerns Push Stocks Lower
Consumers may keep cutting back spending as they worry about losing their jobs. Cons...
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