U.S. markets slide Tuesday

Housing starts climbed 0.5 percent to a seasonally adjusted annual rate of 590,000. Economists, however, had expected housing starts in the range of 620,000 on an annual basis.

By close, the Dow Jones industrial average dropped 50.71 points or 0.5 percent to 10,041.48. The Standard & Poor's 500 lost 6.85 or 0.62 percent to 1,091.06. The
Nasdaq index dropped 12.85 or 0.59 percent to 2,163.47.

On the New York Stock Exchange, 1,051 stocks advanced and 1,996 declined on a volume of 5.3 billion shares traded.

The benchmark 10-year Treasury rose 12/32 to yield 3.343 percent.

The euro fell to $1.4935 from Monday's $1.4943. Against the yen, the dollar rose to 90.68 from Monday's 90.60.

In Japan, the Nikkei 225 index gained 0.98 percent, 100.33 to 10,336.84.

In Britain, the FTSE 100 index dropped 38.14, 0.72 percent, to 5,243.40.

Copyright 2009 by United Press International.