BUSINESS MEMO: PERSONAL INCOME SURGES

A government report showing Americans earning and spending at a robust pace wrenched an already frazzled Wall Street during the past week. Stocks have plunged for a second session on fears of more interest-rate increases from a Federal Reserve intent on keeping the economy from overheating.

Americans' personal incomes surged 0.9 percent in February, the largest gain in eight months and more than double January's 0.4 percent advance, the Commerce Department said Monday.

Economists said February's broad-based income gain -- with advances in every category except farm income -- will help provide consumers with the wherewithal for strong spending through midyear. About four-fifths of the advance came in wages and salaries of private-sector jobs.