Author: Elena Todorova
123jump.com
Last Update: 2:01 PM EST February 28 2006

Stocks moved further lower after CFO of Google reported that growth at the Internet search giant is slowing down. Concerns over inflation and further interest-rate hikes also weighed on sentiment. The second reading of Q4 GDP showing faster economic growth, renewed concerns over inflation and further interest-rate hikes. Consumer confidence index fell to 101.7 in February. Existing home sales in January fell 2.8% to a seasonally adjusted annual rate of 6.56 million units.