Wall Street Drops Despite Positive Reports on Housing, Consumer Confidence
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iStock/Thinkstock(NEW YORK) — After Wall Street posted sizable gains on Monday, the markets came back to earth on Tuesday despite some positive news on housing and consumer outlook.
The Dow Jones Industrial dropped 200.19 to end the session at 17,776.12.
The Nasdaq dipped to 4,900.89, down 46.55 on the day, while the S&P 500 posted 18.35 in losses to a close of 2,067.89.
The newest data from the Standard and Poor’s/Case Shiller Index showed home prices rose 4.6 percent in January as compared to the year before. Also on Tuesday, the Conference Board’s consumer confidence survey showed increased confidence from January to February.
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