Stocks close lower as economy fears mount
Stocks fell on fears of a harsh slowdown and weak earnings. The Dow dropped 265.44 to 10318.93 and the Nasdaq slid 178.94 to 2332.77, its seventh straight loss, as investors priced in a slower economy and delayed Fed aid.
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Apartment and condo work drives housing surge in November
U S housing starts rose 2.2 percent in November to a seasonally adjusted annual rate of 1.56 million, led entirely by apartment and condo construction. Single family starts fell for the third straight month while multifamily projects jumped 12.9 percent to 342,000 an annual rate.
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