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U.S. markets falter Thursday

Thu, 09/24/2009 - 23:11 by Salinder Kumar

NEW YORK, Sept. 24 (UPI) -- U.S. markets stumbled Thursday after the National Association of Realtors said existing home sales fell 2.7 percent in August.

The downturn ended a four-month streak of gains as sales fell to an adjusted annual rate of 5.1 million units, the NAR said.

In early afternoon trading Thursday, the DJIA lost 0.56 percent, 54.26 points, to 9,694.29. The Standard & Poor's 500 fell 1.1 percent, 11.67 points, to 1,049.20. The Nasdaq composite index fell 1.35 percent, 28.83 points, to 2,102.59.

The benchmark 10-year Treasury rose 8/32 to yield 3.385 percent.

The euro fell to $1.4673 from Wednesday's $1.4743. Against the yen, the dollar rose to 91.33 from Wednesday's 91.31 yen.

In Tokyo, the Nikkei 225 index added 173.68 points, 1.67 percent, to 10,544.22.

In London, the FTSE 100 index lost 1.17 percent, 60.10 points, to 5,079.27.

Copyright 2009 by United Press International.

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