SPOOKY STOCKS: Consumers decide next moves as plunge on Wall Street continues
Published 08/09/2011, AP Business Writer
Americans struggling with lean wages, job insecurity and high gasoline prices have seen a 15-percent plunge in stock prices shrink their 401(k) accounts over the past 2½ weeks. When consumers feel less wealthy, they're less likely to buy new furniture, new appliances or new cars. And their spending drives about 70 percent of the economy.Word count: 874
The full article is available to newspaper subscribers. If you are a subscriber please log in to continue reading.