Consumer "Nonfidence"

After a flattish open, the major averages took a hit at 10am with the release of the much weaker than expected Consumer Confidence report.  While economists were looking for the overall index to come in at 73.5, which itself is weak, the actual number came in at 64.5.  While the overall reading was very weak, the expectations component of the report hit its lowest levels since the early 1970s (47.9).