Closing numbers of the NYSE this afternoon, the Dow Jones Industrial lost 268.22
or 2.65% of its value from yesterday, its first close below 10,000 since early June.
A market circuit breaker briefly halted trading today of Citigroup after a trade sent its price tumbling 17%—Citi ended trading today down 7%
Consumer confidence fell in June more than forecast as Americans became distressed over the economic outlook for jobs.
Some U.S. retailers are seeing consumers pull back on purchases. Best Buy Co. the worlds largest consumer electronics retailer, this month reported first quarter profits rose less than analysts expected.
Bed Bath & Beyond, a New Jersey based home accessory retailer, this month forecast fiscal second quarter and annual earnings trailing analysts estimates.
Despite the Obama Administration propagandists traipsing the country claiming that the Economic Stimulus boondoggle was a great success, Americans have lost confidence in the exaggerations made by Democrat-Socialist activists promises of utopia.
U.S. Economy: Confidence Sinks On Concern Over Jobs Via Bloomberg Businessweek
Related: Stocks Skid on Renewed Fears of Global Slowdown Via Yahoo Finance
America’s Ticking Debt Bomb: Like Greece Only Worse Via Yahoo Finance
I think it would be instructive if your readers knew The Difference Between Recession and Depression. There is light at the end of the article.