NEW YORK (AP) -- Shares of major metal manufacturers traded sharply lower Monday, a day after Vice President Joe Biden said the White House "misread" the economy, prompting concerns that an economic recovery could be slower than expected.
In an interview with ABC's "This Week" broadcast Sunday, Biden said the administration "misread how bad the economy was," but stood by its stimulus efforts.
Those comments will likely dampen investor confidence, said David Silver, an analyst with Wall Street Strategies.
During the second quarter, commodity prices "went through the roof," and investors snapped up metal makers stocks on word that the economy was "less bad" than before, he said.
*An economy that's LESS BAD is not a sign we're off to moon again. Job losses that are slowing down are job losses. Prices for homes falling not so fast are still falling.
The Administration has NOT done enough, has the same GOONS from Goldman and friends in places to influence what is good for them.
We have NO ONE in high places who will do what is best for us. Enough hasn;t been done, TOO Much has been done. MANY are near the breaking point.
Lackluster trading day, weak response to 90% down days, when this is over down we go IMHO
D
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