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Stocks fall sharply on consumer spending worries
By SARA LEPRO
AP Business Writer
(AP:NEW YORK) Investors uneasy about the holiday shopping season gave Monday back some of Wall Street’s recent gains, sending the Dow Jones industrial average down more than 360 points.
While initial reports about the start of holiday shopping this weekend suggested sales were better than some retailers and analysts expected, Americans are clearly extremely cautious. That has Wall Street concerned about the impact of a continuing drop in consumer spending on the economy.
According to preliminary figures released by RCT ShopperTrak, a research firm that tracks total retail sales at more than 50,000 outlets, sales rose 3 percent…
1Dec2008 | INO | 0 comments | Continued
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