August consumer sentiment drops to 3-year low 

Consumer sentiment in the U.S. plunged to the lowest level in three years according to a Thomson Reuters/University of Michigan survey. The final August reading on the survey fell to 55.7 from 63.7 in July and up slightly from the initial 54.9, which was the lowest since May 1980. The survey interviews 500 households each month to gauge consumer attitudes about the economy.