You are here: Home - Investing -

US indices fall on weak housing data

0
Written by:
23/09/2014
The S&P 500 index fell on Monday, after the latest US housing data came in weaker than expected, fuelling concerns over the strength of the economic recovery.

Existing home sales fell by 1.8 per cent in August, far below the 1 per cent growth predicted by experts.

In reaction, the S&P 500 index fell 0.8 per cent to 1,994, its lowest level since early August, while the Dow Jones finished the day 0.6 per cent weaker, and the Nasdaq fell 1.1 per cent.

All 10 primary S&P sectors traded lower, consumer discretionary being the worst performing sector, down 1.5 per cent, as fears a slowdown in the housing market will make consumers feel less wealthy impacted sentiment.

Elsewhere, housing stocks were also hit by the news, with some falling more than 2.5 per cent on the day.

The weak data suggests the recovery in the US may be less stable than experts previously thought and could push a rate hike by the Federal Reserve further into the future.

Overnight Japan also saw falls, with the Nikkei 225 off 0.7 per cent, although Chinese shares climbed marginally.

Tag Box

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

The savings accounts paying the most interest

If one of your jobs this month is to get your finances in order, moving your savings to a higher paying deal i...

Coronavirus and your finances: what help can you get?

News and updates on everything to do with coronavirus and your personal finances.

Everything you need to know about being furloughed

If you’ve been ‘furloughed’ by your company, here’s what it means…

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Money Tips of the Week

Read previous post:
Tesco rushes in new finance director after reporting disaster sinks shares

Tesco has announced its new finance director is to start the job immediately, bringing forward the appointment by two months...

Close