Summary Box: Stocks swoon, extending slump to a 4th day, as home sales slide 27 percent
By APTuesday, August 24, 2010
Summary Box: Home sales slump hits stock prices
HOUSING SLUMP: A sharp slump in sales of previously occuppied homes sent stock prices down. The Dow Jones industrial average lost 134 points and reached its lowest level since July 7.
SLIDE EXTENDED: The loss stretched the market’s decline to four straight days as worries deepened about the economy. The Dow has now lost 375 points in the last four days.
DIP BELOW 10,000: The Dow briefly traded below 10,000 for the first time in seven weeks.
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