Stocks fall Wednesday amidst fears about companies typically deemed safe.
Wired PR News.com – Investor fears have reached new levels as stocks tumble amidst concerns over companies that are normally viewed as safe. As reported by the Associated Press (AP), Wall Street took a significant loss on Wednesday as the numbers revealed a possible much higher consumer spending decrease than analysts had originally suggested. Jack Ablin of the Chicago based Harris Private Bank, is quoted in the report as stating, “Consumer staples have enjoyed relative safety in this environment and now these new revelations are raising questions among investors.”
Quarterly reports of companies such as Walt Disney Co., Costco, and Cisco Systems Co. were stated to be catalysts for a new round of growing investor fears about consumer spending. Michael Sheldon with RDM Financial Group is quoted as stating, “There’s so much uncertainty right now that investors are looking for any clues that the economy may be starting to stabilize and turn around.”
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