Wall Street slides after soft US housing data

by

Wall Street’s main indexes have slipped following the S&P 500 and the Nasdaq’s six-day winning streaks after a spate of encouraging economic data allayed recession worries while weak housing data dampened sentiment.

Equities came under pressure a bit after data showed US single-family homebuilding fell sharply in July, suggesting that the housing market remained depressed at the start of the third quarter.

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