(Best Syndication News) Stock prices slipped Tuesday as traders began taking profits after three straight days of advances (see stock charts below). There were several factors putting downward pressure on share prices throughout the day.
Stocks wobbled early in the United States but investors began to worry after European Finance Ministers cancelled their Wednesday meeting. The EU leadership will still be meeting to discuss the debt crisis, but the finance ministers put their conference on hold.
Sour consumer confidence numbers didn’t help matters. The Conference Board said that October consumer confidence hit 39.8, the lowest since the depth of the recession in March 2009. The market had expected that number to be 46.