Stocks are down for the third straight day as more evidence points to a severe slump in consumer spending. The Dow Jones industrial average was down 1.8 percent, or 156 points. The broader Standard & Poor's-500 index is down 1.8 percent, or 16 points. The tech-heavy Nasdaq is down 1.7 percent, or 27 points. Driving investors' fears of sharp drops in consumer spending--which accounts for more than two-thirds of the nation's economy--are more gloomy earnings reports released this morning. Department store Macy's said it lost $44 million in the third ... (more)