Tuesday, February 23, 2010
U.S. stocks drop after confidence gauge plummets
U.S. STOCKS DROP AFTER CONFIDENCE GAUGE PLUMMETS
U.S. stocks tumble Tuesday after a measure of consumer confidence fell
by much more than expected in February, raising concerns about the
outlook for consumer spending.
TREASURYS JUMP MOST IN 2 WEEKS AS CONFIDENCE FALLS
Treasury prices rise and yields retreat, as U.S. consimer confidence
fell far more than anticipated. Still to come is the government's
auction of 2-year notes.
DOLLAR GAINS AS U.S., GERMAN CONFIDENCE SINK
The U.S. dollar was higher versus most major rivals Tuesday, gaining
ground as a drop in German business confidence and consumer sentiment
in the U.S. increased concerns about the durability of the global
economic recovery.
U.S. CONSUMER CONFIDENCE SINKS IN FEBRUARY
Consumer confidence falls sharply in February as Americans turn more
pessimistic about job prospects and the U.S. economy.
FDIC: NUMBER OF TROUBLED BANKS RISES TO 702
Driven in part by growing problems with commercial real estate loans,
the number of distressed banks in the U.S. reaches 702, the highest
level in sixteen years, says the Federal Deposit Insurance Corp.
