1 Jul 2009

Wall St brakes as confidence drops

10:11 am on 1 July 2009

Stocks in the United States fell on Tuesday due to an unexpected drop in consumer confidence.

The Conference Board said its index of consumer attitudes dropped to 49.3 from 54.8 in May.

The Dow Jones industrial average slipped 82.38 points, or 0.97%, to 8,447.00.

Standard & Poor's 500 Index dropped 7.91 points, or 0.85%, to 919.32. The Nasdaq Composite Index shed 9.02 points, or 0.49%, to 1,835.04.

Volume was light due to a short trading week. US markets will be shut for the Independence Day holiday on Friday.

On the New York Stock Exchange, about 1.33 billion shares changed hands - below last year's estimated daily average of 1.49 billion.

About 2.13 billion shares were traded on the Nasdaq - below last year's daily average of 2.28 billion.