US shares tumble on fresh European fears

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Source: Marketwatch
US equity markets experienced downward path on Monday weighed down by negative news from Europe as Moody's downgraded Spanish banks and Merkel's speech raised concerns EU summit will not bring any particular solution to debt woe. Better than expected new home sales sent building shares higher but did not manage to break overall negative trend. S&P 500 index fell 1.6% or 21.30 points and closed at 1,313.72. Dow Jones Industrial Average tumbled 1.09% or 138.12 points and settled at 12,502.66. Nasdaq Composite diminished 1.95% or 56.26 points and finished at 2,836.16.
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Tue, 26 Jun 2012 07:48:26 GMT

European shares fell on Monday

European stocks traded notable lower on Monday as investors hopes for positive outcome in upcoming EU summit faded. Moreover Spanish bond yields again moved closer to 7% after Moody's downgrade. Stoxx Europe 600 fell 1.5%, German DAX lost 2.1% and Athens General index plunged 6.8%. Italian FTSE MIB index shed 4% and British FTSE 100 dropped 1.1%. Spanish IBEX 35

Tue, 26 Jun 2012 07:22:16 GMT

US new home sales reach 2-year high

Sales of new homes in US surged in May attaining a 2-year record high to annual 369,000, Commerce Department said on Monday. Economists questioned by Marketwatch predicted a slower improvement to 348,000. The median home price declined by 0.6% to USD 234,500 in previous month. Despite sharp increase US new home sales are still well below the normal level. 

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