NEW YORK CITY-The stock market plummeted for a fourth day after an unsatisfying report on housing exacerbated concerns of US economic recovery. Due to the news that home sales fell by 27% in July, the Dow Jones Industrial Average lost 134 points on Tuesday.
The shares of Dow dropped below 10,000 and within four days it has lost up to 375 points. The high unemployment rate and the expiration of homebuyer tax credit were the main factors keeping home sales down. For the full story, go to The Detroit Free Press.
GlobeSt.com News Hub is your link to relevant real estate and business stories from other local, regional and national publications.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
