Stocks tumble after sales of existing homes fall

July 24, 2008 at 9:58 pm | Posted in economy, USA | Leave a comment

NEW YORK (AP) — Wall Street abruptly ended an earnings-driven rally and closed sharply lower Thursday after a steeper-than-expected decline in existing home sales and worries about the financial sector chilled the market’s recent optimism. The major indexes fell about 2 percent, including the Dow Jones industrial average, which lost more than 275 points.

[Chart]

Advertisements

Leave a Comment »

RSS feed for comments on this post. TrackBack URI

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Blog at WordPress.com.
Entries and comments feeds.

%d bloggers like this: