NEW YORK — Investors are adding consumer confidence to their growing list of things to worry about.

Stocks are sharply lower at midday after a private research group said consumer confidence unexpectedly fell in June.

Investors had been expecting the Conference Board's measure of consumer sentiment to hold steady. Consumer confidence is closely watched because spending from consumers accounts for more than two-thirds of U.S. economic activity.

After months of economic data showing that the recession was not getting worse, investors are hungry for signs that the economy is growing.

The Dow Jones industrials are down 123 points to 8,405. The Standard & Poor's 500 index is down 13 to 913, while the Nasdaq composite index is down 15 to 1,828.

Comments ... 0 found!