Reply #6: Investor confidence at 13-month low: UBS [View All]

[ozymandius]

NEW YORK (Reuters) - Investors' confidence in the U.S. economy fell in September for a fourth straight month to its lowest level in 13 months on continued concerns about the housing market and elevated energy costs, a survey showed on Monday.

The UBS/Gallup Index of Investor Optimism fell to 68 in September, down 5 points from 73 in August The study for the index was conducted prior to the Federal Reserve's rate cut on 18.

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Recent market turmoil has prompted more and more investors to review their personal holdings, with 34 percent re-evaluating their portfolios, said UBS.

Of those who have made a re-evaluation, 58 percent are holding more cash or cash equivalents, 43 percent have reduced their investments in complicated financial instruments such as mortgage-backed securities, and 20 percent have reduced their investments outside the United States.

http://news.yahoo.com/s/nm/20070924/bs_nm/usa_economy_gallup_dc