Stocks Fall on Home Sales Report
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Shares plunged in morning trading as a jittery Wall Street sold off on a report showing a large drop in pending home sales.
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Stocks took a dive in morning trading today after the release of fresh housing data and a report showing turmoil in the financial markets had sharply reduced consumer confidence in August.
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Wall Street stocks declined on Tuesday, after major retailers lowered their sales forecasts, house prices fell at their sharpest pace for sixteen years and existing home sales fell to a five-year low.
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Stocks fell on Tuesday after a report showing a decline in retail sales underscored worries about a recession and Citigroup Inc's  loss hurt financial shares.
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Sales of new US homes fall 23%, in the latest indication of the downturn in the housing market.
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Stocks ended little changed on Friday as weak new home sales data reinforced concerns that the housing and mortgage markets may be far from a recovery, offsetting gains in the energy sector.
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Stocks extended losses on Monday as a report showing a decline in existing home sales last month suggested the housing sector remained mired in a downturn.
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Stocks extended losses on Tuesday, with the S&P 500 index falling 1 percent, as financial shares declined further on housing market concerns.
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Stocks tumbled on Tuesday, with the S&P and Nasdaq falling more than 2 percent, after a report showing a decline in retail sales bolstered the market's suspicions the economy was heading into a recession.
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Stocks extended losses on Wednesday after data showing weaker-than-expected existing-home sales added to concerns about the U.S. economy.
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U.S. stock index futures fell on Friday, signaling a weaker market open, after data showed housing starts fell more than expected in January.
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U.S. stocks stumbled on Monday after data showed the inventory of unsold homes soared to its highest level in over 15 years as subprime mortgage market troubles continued to wreak havoc in the housing sector.
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US stocks fall on Thursday after the country's largest mortgage lender warns of a possible recession.
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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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Stocks trimmed losses on Tuesday to trade little changed as investors saw no new negative surprises in a report on existing home sales and as crude oil fell sharply.
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Stocks plunged Tuesday, driving the Dow Jones industrials down 200 points and erasing the gains from the past three sessions, as troubles for subprime lenders kept piling up and U.S. retail sales came in weaker than anticipated.
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Stocks declined on Monday, pressured by a sell-off in energy shares after oil prices dropped and worries that further evidence of weakness in the housing market could hurt consumer spending.