US stocks plunge on rising oil prices
Higher oil prices and sliding consumer confidence sent stocks plunging today as a weak sales report from Wal-Mart Stores Inc. raised concerns about discretionary spending.The Dow Jones industrial skidded almost 185 points.
Although the Conference Board’s consumer confidence index fell less than expected, invetors were nervous about an eroding consumer picture after Wal-Mart blamed its modest sales on the impact of gasoline and utilities prices on its customers.
