Tue, Nov 24 2009
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US stocks slide on dip in consumer confidence SARA LEPROAP Business Writer "The market is concerned that this budding recovery is going to evaporate, was just a mirage," said Sung Won Sohn, an economics professor at California State University, Channel Islands. The Dow Jones industrials fell 82.38, or 1 percent, to 8,447.00. The blue chips had been down by more than 100. The S&P 500 index fell 7.91, or 0.9 percent, to 919.32, while the Nasdaq composite index fell 9.02, or 0.5 percent, to 1,835.04. For the quarter, the Dow is up 11 percent, its first quarterly gain in more than a year and a half. It was the Dow's best quarter since the final three months of 2003. The index is still down 40.4 percent from its high of 14,164.53 on Oct. 9, 2007. For June, the Dow slipped 0.6 percent, breaking a three-month streak of gains. The S&P 500 index is up 15.2 percent, its strongest performance since the fourth quarter of 1998. The Nasdaq is up 20 percent. With the second quarter ended, the big question weighing on the market is whether signs of an economic recovery will be evident by the end of the year. Analysts say it could be difficult for the market to resume its advance until investors get data that confirm things are actually getting better. 
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