Worries about housing, consumers send stocks lower
NEW YORK (AP) -- Wall Street is down again in early trading after homebuilder Toll Brothers Inc. said it couldn't project a profit for 2009 and coffee chain Starbucks Corp. reported disappointing earnings.
The reports point to ongoing problems in two of the market's greatest areas of concern: housing and consumer spending. Both Starbucks and Toll Brothers reported sales declines.
In the first few minutes of trading, the Dow Jones industrial average is down 173 points, or nearly 2 percent, at the 8,697 level.
The broader market indexes are also down more than 1 percent.
The government and bond markets are closed for Veterans Day, so no economic reports are scheduled.
Investors are focusing on corporate earnings reports instead.
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