U.S. stock losses mounted Tuesday after weak housing sentiment data fueled fears of an economic slowdown, in a market already trying to juggle with a stronger-than-expected jump in headline producer prices and a volatile situation in the Middle East. "There is some real concern that the U.S. economy is starting to slow and a more rapid deterioration in the housing market would certainly contribute to that," said Michael Malone, trading analyst at Cowen & Co.
Home builders' confidence plunged to a 15-year low in July, reflecting growing worries about rising interest rates and declining affordability, the National Association of Home Builders said.