Thomas Heath on the Markets
U.S. stocks fell across the board Monday as fresh economic data showed the housing downturn to be worsening.
Sales of previously owned homes slipped in July by 0.2 percent, while the median price of homes sold dropped for the 12th straight month, according to the National Association of Realtors. The figures do not reflect the recent turmoil in the mortgage market, and some analysts expect home sales figures to worsen in coming months.
The Dow Jones industrial average dropped 56.74, or 0.42 percent, to 13,322.13, while the broader Standard & Poor's 500 index fell 12.58, or 0.85 percent, to 1,466.79. The Nasdaq composite index fell 15.44, or 0.60 percent, to 2,561.25.
Thomas Heath discusses the day's numbers and lots more with Washington Post Radio's Hilary Howard and Bob Kur. Listen here.
Please email us to report offensive comments.
The comments to this entry are closed.