AT&T, housing market woes trigger fresh fears over economy
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US stocks suffered a late afternoon plunge on Tuesday as downbeat news from AT&T and more trouble in the housing market raised fresh fears over the health of the US economy.
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Stocks extended losses on Wednesday as a report pointing to a worsening housing market added to concerns about weakness in employment and the outlook for economic growth and profits.
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Despite a slight slump in home prices, high housing costs trouble local residents more than concerns about education and healthcare, a new poll showed.
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U.S. stocks slid on Thursday as worries about bad mortgage debts hit bank shares and a warning from home builder Toll Brothers Inc.  reignited concern about weakness in the housing market.
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Investors, frightened by the prospect of a new subprime mortgage crisis that could dwarf the write-downs of the last few months, sent markets lower.
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Economists warned that underneath the rising numbers, signs of a weakening housing market were more prevalent than ever.
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The chances of an economic recession  are increasing as troubles in the housing sector and credit  markets take their toll, according to a survey of economists  released on Monday.
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US stocks were set for more pain on Friday as heightened credit concerns and fresh bad economic news weighed on investor sentiment.
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U.S. stocks tumbled on Tuesday after a warning by phone company AT&T of soft consumer spending sparked a new round of recession fears, helping drive the S&P to its worst-ever five-day start to a year.
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U.S. stocks tumbled on Tuesday after a warning by phone company AT&T  of soft consumer spending sparked a new round of recession fears, helping drive the S&P to its worst-ever five-day start to a year.
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Stocks fell on Wednesday after data showed deterioration in the employment and housing markets, underscoring concern that problems of the subprime mortgage market were spreading to the wider economy.
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Stocks fell sharply and goverment bonds rallied on Tuesday as further bad news from the beleaguered US mortgage sector fuelled concerns over growth prospects for the broader economy.
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Nearly two years into the U.S. housing slump, corporate America is increasingly concerned the slowdown could spread into other areas of the economy.
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Wall Street lost momentum from last weekâs gains after news of declining existing home sales stirred concerns about the strength of the economy.
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As troubles in the US housing market ripple across the global economy, the health of banks has become one of the biggest financial uncertainties for 2008.
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Interest rate fears add to jitters in financial markets.
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U.S. stocks fell on Wednesday, with investors uncertain that equities could avert further losses amid lingering concerns about economic growth and fallout from a slowing housing market.