ML-Implode News - U.S. Stocks Fall, Log Big Weekly Decline on Fed, Consumer Woes

``Stocks around the world have fallen sharply this week as investors brace for the Federal Reserve to raise rates as soon as December''.. "[But] every time the market comes face to face with the fact that we will no longer have zero interest rates, it struggles," said Jim Dunigan, chief investment officer at PNC Wealth Management.
The S&P's consumer discretionary sector was the biggest decliner Friday, down 2.7%, driven by a handful of weak earnings from retailers and another tepid report on U.S. consumer spending. Those stocks have slipped 4.6% for the week, notching their biggest percentage decline since late August, but remain the best performers for the year.

"There's this view that the U.S. consumer is going to come in and save the day, and yet they somewhat stubbornly remain on the sidelines," said Michael Arone, chief investment strategist at State Street Global Advisors.

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U.S. Stocks Fall, Log Big Weekly Decline on Fed, Consumer Woes