Stocks fell in the afternoon after consumer confidence dropped to its lowest level since April, sparking fears of reduced household spending. The Conference Board’s September Consumer Confidence Index fell to 94.2, driven by concerns about the job market and inflation. This could lead to less spending on non-essential items. The housing market also showed signs of cooling, with home price growth slowing. Additionally, the looming threat of a government shutdown added uncertainty, causing investors to retreat from sectors dependent on consumer spending. Offerpad’s shares were impacted, but the market views the news as significant without changing its perception of the business.

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