Housing slump revives economic fears

July 24, 2008

The biggest drop in existing home sales in 10 years reignited worries about the economy, which in turn sparked the biggest drop in the Dow since late-June. The Dow tumbled 283 points to 11,349. The S&P 500 fell 29 points to 1,252. The Nasdaq dropped 45 points to 2,280. Crude oil prices rallied over $1 to $125.49 a barrel. SPEAKER: Fred Dickson, chief market strategist, D.A. Davidson Conway Gittens reports from New York.