NEW YORK (CNN/Money) - Consumer confidence continued its steep decline in October and hit a level not seen since Jan. 1994 as a volatile stock market, the threat of war in Iraq, and higher fuel prices weighed on the U.S. economy, according to an ABC News/Money magazine poll released late Tuesday.

The ABC News/Money consumer comfort index, comprised of views on the economy, personal finance and buying climate, fell four more points following a five-point drop in the first week of October.

The index now stands at -23 on a basis of positive 100 to negative 100.

In 877 weeks of ongoing polls, the survey has only seen two declines of four or more points in a month only 12 times, the last coming in March 2001.

Measured separately, views on the U.S. economy fell three percentage points, as 26 percent of those surveyed said the economy is in excellent of good shape, also the lowest level since Jan. 1994.

Opinions on personal finance also dropped, as 53 percent of those polled said their finances are in excellent or good shape, down from 55 percent in the previous survey. This marks the lowest level since August 1995.

Also, 36 percent of those asked said it is an excellent or good time to buy things they want or need, a decline from 38 percent in the previous poll and a level not seen since January 1997.

The ABC News/Money magazine survey represents a rolling average based on telephone interviews with about 1,000 adults nationwide each week. This week's results are based on 1,012 interviews in the month ended Oct. 20, 2002, and have an error margin of plus or minus 3 percentage points.