US Stocks Pare Losses After Housing-Induced Slide - CNBC: "Stocks pared their losses Tuesday as homebuilder, telecom and some consumer stocks recovered after a sharp drop triggered by a dismal report on home sales.
Major U.S. Indexes
.DJIA
10040.45
-133.96
-1.32%
0
.NCOMP
2123.76
-35.8699
-1.69%
0
.SPX
1051.87
-15.49
-1.45%
0
The Dow Jones Industrial Average was down about 90 points, led by Boeing, Caterpillar and GE, after being down nearly 200 earlier.
If it holds, this would be the fourth straight decline for the Dow, which has lost 2.3 percent in the past three sessions.
The CBOE volatility index, widely considered the best gauge of fear in the market, popped above 27.
Existing-home sales fell 27.2 percent in July to an annual rate of 3.83 million units, their lowest pace in 15 years. The prior month was revised lower to show a 5.26 million-unit pace.
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