Stocks slide on worries about consumer spending; market could post 1st weekly fall since Oct.

  • Article by: KEN SWEET , Associated Press
  • Updated: December 3, 2013 - 5:00 PM

NEW YORK — After eight straight weeks of gains, the stock market pullback long anticipated by investors may have arrived.

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theagonybhoDec. 3, 13 9:58 AM

When and if the feds ever taper or stop the stimulous the 2008 crash will seem mild, were on a 85 billion a month sugar high right now.

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spurmdelgateDec. 3, 1310:41 AM

85 billion a month sugar high has been wonderful but what will it feel like when it's time to crash?

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jpcooperDec. 3, 13 5:26 PM

just wait for the new healthcare premiums to hit everybody over the next 8 months! It will do wonders for consumer spending!

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jarlmnDec. 3, 13 5:43 PM

We fancy ourselves a thoroughly modern country. Yet so much of our economic and psychosocial well-being is dependent upon a yearly consumerist potlach that is loosely tied to a spurious religious observance. Thus, we are actually no more sophisticated a culture than a south seas cannibal cargo cult.

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ffedericoDec. 3, 13 7:26 PM

QE3 is like the sword of Damocles hanging over investors' heads. It's time to taper, Ben.

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brotherkennyDec. 3, 13 7:33 PM

Coached internet comment professionals often use the exact same simplistic analogies. This seems a somewhat ridiculous process since the only people who fall for such misinformation are those who don't read or understand or vote. While one may fully expect a correction once the fed stop buying bonds, it will mean very little to the real economy and will only really affect the fake stock market. In fact the real harm in the fed action is the devaluation of the dollar, not that the corporations piling up fake profits will finally have to use some of that supposed economic vision and savvy they constantly tell us they have.

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sarahanneDec. 3, 13 8:38 PM

Who cares about consumer spending? I want to know if the 1% had an increase in income. We have been told for the last 30 years that is what counts.

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