The USA Today had an article on Thursday that talked about how investors aren't going to be moving money because of consumer's low purchasing confidence.
Not many people are out buying luxuries right now. Luxuries like high end electronics are going to be taking a back seat to necessary costs.
Another article in USA Today, also on Thursday by Barbara Hagenbaugh and Sue Kirchhoff, stated that it is most retail that will suffer not just electronics.
The article, which was not on the USAToday.com web site, reported total retail sales fell 1.2% from August to September.
The article stated that the Commerce Department said it was the biggest drop in consumer spending since 2005.
All aspects of life are being cut back, cars, electronics, out of home dinning, clothing, books, music, and even groceries.
Consumers are seeing the market news and closing up their funds.
Joel Naroff, an economic advisor, said consumers started shutting down spending before the market even crashed.
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