Consumers Spooked by Stock Market Drop

Another consequence of the recent stock market dip. The public has every reason to be concerned:

Consumer confidence was knocked off a 2 1/2 year high in March as a recent swoon in worldwide stock markets made people feel less secure about the economy's prospects and their own financial fortunes.

The decline also comes as the national economy is undergoing a sluggish spell, while gasoline prices are spiking. Concerns also persist about the depth of the housing slump. All of these things have implications for peoples' pocketbooks.