By  on June 29, 2010

The Dow Jones Industrial Average slunk back below 10,000 Tuesday and retail stocks fell 3.8 percent, surrendering the 400 mark, as general economic concerns and a sharp drop in consumer confidence fueled a global sell-off.

The Conference Board’s Consumer Confidence Index slipped to 52.9 from 62.7 in May as shoppers reported feeling less bullish in their current economic situations and their future outlooks. Rather than a nearly 10-point drop, economists expected the index to post its fourth consecutive monthly gain.

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