Wall Street Extends Losses After Single-Family Home Sales Fall in October

Category: Markets / Finance / Nov 28, 2012 11:00AM EDT
U.S. stocks extended losses on Wednesday (November 28) after data showed new single-family home sales fell slightly in October and the government revised sharply lower its estimate for the prior month's sales, denting optimism over one of the brighter sectors of the economy. The Dow Jones industrial average dropped 104.82 points, or 0.81 percent, to 12,773.31. The Standard & Poor's 500 Index lost 12.81 points, or 0.92 percent, to 1,386.13. The Nasdaq Composite Index fell 30.76 points, or 1.04 percent, to 2,937.03.