Led by weakness in multi-family construction, housing starts fell 6.2% in August to an annual rate of 895,000 units, the lowest level since 1991 and below the forecast of 950,000. Building permits were also weak, dropping 8.9% to 854,000 units and south of the consensus forecast of 927,000.
The Dow Jones Industrial Average tumbled 449 points (4.1%) to close at 10,610, the S&P 500 Index fell 57 points (4.7%) to 1,156, and the Nasdaq Composite purged 109 points (4.9%) to 2,099. Crude oil jumped $5.94 to $96.96 per barrel, and gold surged $89.60 to $870.10 per ounce.
Magnificent Seven Update
Daily Update Of Open Positions...Stocks & ETFs
