US stocks open lower after housing data - WKOW 27: Madison, WI Breaking News, Weather and Sports

US stocks open lower after housing data

NEW YORK (AP) -- Stocks are falling in early trading after a government report that home construction fell more than expected last month to the lowest pace since early 1991.

  The Commerce Department says housing starts fell more than 6 percent to an annual rate of 817,000 units in September, below the 880,000 units forecast by Wall Street economists.

  The report is a reminder that the original source of much of the economy's turmoil, the housing market, remains troubled.

  A growing belief that the nation is either in a recession or heading for one has set off selling in the stock market this week.

  The Dow Jones industrial average is down 215 at the 8,763 level.

Powered by Frankly