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Stocks retreat after disappointing consumer report

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Posted: Feb 23, 2010 9:37 AM by John Pastorek
Updated: Feb 23, 2010 9:47 AM
Source: Associated Press

  Rating: 5.0 (1 vote)

Topics: stocks, Wall Street, consumer confidence, Conference Board, consumer confidence index, economy

A sharp drop in consumer confidence sent stocks lower in early trading on Tuesday.

The Conference Board said its consumer confidence index has fallen to 46 in February from 56.5 last month.

Economists had expected a reading of 55. A reading above 90 means the economy is on solid footing.

The Dow Jones Industrial average was down 36.43, or 0.4 percent to 10,346.95.

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