Another Rough Day for Stocks

While the Treasury Department announced a complete U-turn earlier today and abandoned its plan to buy toxic mortgage assets, Wall Street kept going in the same direction: Down. Major indexes dropped more than 4 percent today with more companies reporting more losses as more consumers decide that now may not be the time to buy beyond the basics. "[The year] 2009 is going to be the first year since 1980 that we see a drop in consumer spending," said Marshal Cohen, chief industry analyst with the... Full Story