The Standard & Poor's/Case-Shiller home price index released Tuesday showed home prices flat, up 0.4 percent, after five months of sharper gains. Analysts cited the figure as a wake-up call, warning the critical housing market may be poised for a second descent.
In early afternoon trading Wednesday, markets appeared ready to repeat Tuesday's performance of modest early gains losing traction. The Dow Jones industrial average, up only 0.01 percent early, shed 14.20 points, 0.13 percent, to 10,531.21. The S&P 500 dropped 2.51 or 0.22 percent to 1,123.69. The Nasdaq composite index fell 5.45 or 0.24 percent to 2,282.95.
The benchmark 10-year U.S. Treasury bill rose 3/32 to yield 3.79 percent.
The euro fell to 1.4338 from Tuesday's $1.4351. Against the yen, the dollar rose to 92.434 yen from Tuesday's 92.04 yen.
In Japan, the Nikkei 225 index lost 0.86 percent, 91.62, to 10,546.44.
In Britain, the FTSE 100 index lost 0.73 percent, 39.75, to 5,397.86.
Copyright 2009 by United Press International.
Post new comment