NEW YORK — A surprise drop in consumer confidence tripped up investors yesterday, a day after a round of corporate takeovers set off a steep market rally.

Stocks slid after the Conference Board said its consumer confidence index fell in September. Economists had been expecting a reading of 57; instead it came in at 53.1.

The private research group said consumers are still worried about losing their jobs. Many analysts warn a turnaround in the economy won't hold if consumers don't start picking up spending and employers add jobs.

The report offset early enthusiasm over an increase in home prices.