US consumer confidence falls sharply

The Conference Board consumer confidence index fell to a 10-month low of 46, from 56.5 in January. Analysts were expecting a decrease to 55. The report appeared to concern Wall Street. The Dow Jones closed down 101 points, or 1 percent, to 10,292.4

The data came as several US retailers reported higher profits but weak sales. For the three months to the end of January, Macy's made a profit of $466m (£302m), while Home Depot recorded a $342m profit.