Stocks slump amid concerns about consumers

Best Buy’s disappointing earnings, rise in crude oil prices also dent stocks

Updated: 5:52 p.m. ET Sept. 13, 2005

NEW YORK - Disappointing earnings from electronics retailer Best Buy Co. Inc. sent stocks falling Tuesday as investors feared lackluster consumer spending heading into the holiday season that would weaken the overall economy.

Best Buy’s profits, which rose 25 percent from a year ago, missed Wall Street’s forecasts, and the company said the current quarter also would miss targets, heightening investors’ concerns that high gasoline and heating oil prices will hurt consumers.