Wall Street Slides Again While Consumer Borrowing Jumps
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JaysonPhotography/iStockphoto/Thinkstock(NEW YORK) — Tuesday marked another day of sharp losses on Wall Street, while the level of consumer borrowing hit its highest point on record.
The Dow Jones Industrial Average tumbled 272.58 to a 16,719.33 close.
The Nasdaq dropped 69.6 to 4,385.20, while the S&P 500 dipped 29.74 to a 1,935.08 finish, slipping further from the 2,000 mark.
Outstanding consumer credit reached $3.247 trillion in August, a $13.5 billion jump, according to the Federal Reserve. Consumer credit increased by five percent.
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