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Here's some current stock market figures that display the markets current deterioration: The Nasdaq index lost 8 percent of its value, putting it nearly two thirds off its peak last year, the Dow Jones index closed below 10,000, ending its biggest one-week point drop in 11 years, the S&P 500 index is now down 25% from its peak last March. This marks the start of the first bear market in half a generation.
The future certainly looks grim just by looking at the major index's performance, but that is not the only thing we have to worry about. Consumer spending fuels two thirds of the economy and consumer confidence fuels consumer spending...
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