BEIJING, Aug. 15 -- Wall Street retreated Friday, as
confidence among U.S. consumers unexpectedly fell in August for a second
consecutive month as concern over jobs and wages grew.
The Reuters/University of Michigan preliminary index
of consumer sentiment decreased to 63.2, the lowest level since March.
Economists had expected a reading of 68.5 compared with 66.0 in the final July
report. The measure reached a three-decade low of 55.3 in November.
Major indexes extended early losses after the
sentiment report. On other economic data, the U.S. Commerce Department said
Friday consumer prices showed no changed in July, in line with analysts'
expectations and far below the 0.7 percent jump in June. Prices fell 2.1 percent
year on year, the biggest annual decline since a similar drop in the period
ending in January 1950.
The Dow Jones lost 76 or 0.82 percent, to 9,321.
Broader indexes also lost ground. The Standard & Poor's 500 index dipped 8,
or 0.85 percent, to 1,004 and the Nasdaq fell 23, or 1.19 percent, to 1,985.
Xinhua News Agency correspondents reporting from New
York. (XHTV)