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that retail sales declined by six tenths of a percent. now six tenths of a percent may not sound like much, but wall street reacted to that report with the dow ending down 764 points on thursday, which was the dow's worst day in three months. today, the dow closed down 281 points. so 1045 points over two days. now, to be clear, one consumer spending report, and two bad market days does not make a recession. so what's going on here? it's the fear of a recession, is that becoming a self fulfilling prophecy? joining me now is mark zandi, chief economics -- from moody's analytics. i've been talking to mark, i don't know 20 plus years or something about these things. so you know what you speak, mark. what is the -- what's the issue here? consumers, it seems, are spending a little bit less. we do know that homes are down a bit which is the immediate effect of raising address break because mortgage rates go up. but this is kind of what we
281 points. so 1045 points over two days. now, to be clear, one consumer spending report, and two bad market days does not make a recession. so what's going on here? it's the fear of a recession, is that becoming a self fulfilling prophecy? joining me now is mark zandi, chief economics -- from moody's analytics. i've been talking to mark, i don't know 20 plus years or something about these things. so you know what you speak, mark. what is the -- what's the issue here? consumers, it seems, are spending a little bit less. we do know that homes are down a bit which is the immediate effect of raising address break because mortgage rates go up. but this is kind of what we want it to happen, right? we wanted a place to cool everything down a little bit. not things cool down a little bit and a whole bunch of investors are freaked out. >> well, i got put some context -- early, start prices go up,
A former Berkeley County school superintendent has filed a lawsuit against his former employer, , members of the school board and his replacement alleging they conspired to oust him from his position.