Consumer Confidence Data Affected Wall Street

The stocks of Wall Street have been affected by the weakening U.S. consumer confidence data and waiting for the main witness of the Federal Reserve Chairman Ben Bernanke. Dow Jones Industrial Average slumped 100.97 points (0.97 percent) to close at 10,282.41, because the economic-sensitive stocks led the decline.

Market participants are also waiting to hear Bernanke's monetary report to Congress this week to provide guidance on the acceleration of the recovery and the future rate. Analysts said the market was disebuah circles when the Fed last week raised for discount rate quarter points.

Market still consider each other in an effort to see the importance of changes discount rate level. Among Dow components, Alcoa slid 2.66 percent to $ 13.18, and Caterpillar fell 2.36 percent to $ 56.66. Macy's rose 1.08 percent to $ 18.67 after the store group reported better than expected profits.

In the pharmaceutical sector, Glaxo Smith Kline rose 0.27 percent to $ 37.42 after the market brushed off news of a safety panel that recommended by avandia diabetes drug derived from the market. Financial stocks fell after a report showed an increasing number of troubled banks that regulators followed. Wells Fargo fell 2.57 percent to $ 27.29 and Bank of America lost 1.67 percent to $ 15.94.

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