US stocks slide after new home sales fall

Signs of a weaker US housing market and a gloomier outlook on the economy gave investors more reasons to dump stocks today.

US stocks slide after new home sales fall
Wed, 28 Oct, 2009 - 21:53

Signs of a weaker US housing market and a gloomier outlook on the economy gave investors more reasons to dump stocks today.

Major market indexes fell sharply today after the Commerce Department said new home sales dropped for the first time in five months. Sales slid 3.6% in September to 402,000. Analysts had expected an increase.

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