Stocks Down on Housing Data

By Kevin Spak,  Newser Staff
Posted May 26, 2009 8:48 AM CDT
Stocks Down on Housing Data
Traders work on the floor of the New York Stock Exchange at the post that handles Citigroup Monday, May 4, 2009.   (AP Photo/Richard Drew)

A bad Case-Shiller number helped push stocks lower at the open, with the Dow down 37 points, and the Nasdaq and S&P down 0.4% and 0.5% respectively. Home prices fell more than 10% year-over-year in 15 of the 20 major metropolitan areas monitored by the Case-Shiller index, reports the Wall Street Journal. Traders are also nervous about North Korea’s missile tests. GM shares were down 20%, as it faces what is expected to be its last pre-bankruptcy week. (Read more stock market stories.)

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