From New York, Marketplace's Jessica Smith has more. It's hard to say if that shook people's confidence in the economy. But it may have had an effect on consumer spending. It seems when tech stocks did well, consumers were off to the mall. When they slumped, so did sales growth.
Economists do worry about the increasing impact of volatile stock prices on the nation's economy.
But, they point out, every recent slump has so far been followed by a quick rebound. In New York, I'm Jessica Smith for Marketplace. The Federal Communications Commission has already begun its process to approve these stations, but the broadcasting industry argues these small radio stations will create havoc on the radio dial. As Marketplace's John Dimsdale reports from Washington, both sides claim they have the audio tape to prove their point. They said the broadcasters had merely taken two separate signals and mixed them together to create their tape.