Consumer worries rise

(01:10) Report

Jul. 22 - Disappointing results or outlooks from key consumer-related companies like American Express and Apple revived worries of a consumer-led recession.

  • Wachovia announced a near $9 billion quarterly loss as the mortgage crisis continued.
  • Oil prices dropped sharply as Tropical Storm Dolly veers away from oil and gas hub. Conway Gittens reports from New York.

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