Stock fell sharply for the second straight day yesterday as eroding consumer confidence burdened a market vexed by fresh US government warnings that militants may be plotting more attacks on the United States and abroad.
US consumer confidence plummeted in October to its lowest in more than seven years as growing numbers of Americans lost their jobs, according to a survey conducted after September 11th.
"Today's number was no pleaser . . . I sit here and I stare at my screen and all I see is one lay off announcement after another," said Ms Donna Van Vlack, director of trading at Brandywine Asset Management, which manages $7 billion.
Stocks began on a weak note amid negative outlooks or earnings from companies like software provider Openwave Systems or drugstore chain CVS. Dow component Philip Morris, the world's largest tobacco company, dropped $1.98 to $47.70. Investment house Goldman Sachs removed Philip Morris from its recommended list.
Ford Motor Co, the world's second-largest automaker, shed 16 cents to $16.05.
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