- The Washington Times - Monday, August 17, 2009

UPDATED:

NEW YORK — Investors’ rising fears about consumer spending are turning stocks into a risky investment again.

Stocks are sharply lower and demand for safe-haven government debt is soaring Monday as investors around the world fear that consumers are too anxious to lift the economy into recovery. The losses are extending the selling that began Friday with disappointing consumer confidence numbers.

China’s main market fell 5.8 percent as investors worried that stocks had risen too quickly and the government would tighten bank lending policies.

That is hurting U.S. stocks. At midday, the Dow Jones Industrial Average is down 165 at 9,156. The Standard & Poor’s 500 index is down 21 at 983, while the Nasdaq composite index is down 47 at 1,938.


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