Weak Housing Data leads to US Stock Market fall

Date October 24, 2007

Home sales were down to record lows as per the housing data revealed today. This led to the sharep decline in share prices of US Stocks. NASDAQ was down more than 1% today. Other factors which assisted the free fall of US stocks was Merill Lynch’s write off of about $8 billion. This added investor concerns about post sub-prime crisis’ credit market problems. Amazon.com whcih came out with disappointing results only added to the woes of US investors as they couldn’t hel but remain spectators to the tumbling share prices of US stocks.

Category Posted in US Stock Market