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Stocks fell more than 1 percent on Tuesday as sales of existing homes in the United States last month fell to a 15-year low, underlining growing concerns about the pace of economic recovery.

July U.S. existing home sales plummeted 27 percent, a drop that was twice as steep as expected, to an annual rate of 3.83 million units, far below the 4.7 million rate forecast by a Reuters poll of economists.

"Even after four years of declines, housing remains the key threat to the recovery," said Zach Pandl, an economist at Nomura Securities International in New York.

"The problem that pushed us into recession to some degree still remains. There's still imbalance in the housing market; too many homes and too little demand."  
http://finance.yahoo.com/news/Indexes-slump-as-July-home-rb-1102

U.S. stock futures fell sharply Tuesday, as fears about a global growth slowdown prompted traders to sell assets including equities, while the Japanese yen soared to a fresh 15-year high against the U.S. dollar.

Wall Street was also readying for another downbeat report on the housing market shortly after the opening bell.

Futures on the Dow Jones Industrial Average dropped 103 points to 10,054, and S&P 500 futures declined 12.1 points to 1,053.5.

Nasdaq 100 futures slipped 22 points to 1,787.5.
  http://www.marketwatch.com/story/economic-fears-drive-us-stock-futures-lower-2010-08-24?siteid=yhoof

Equities ended in the negative territory Tuesday, as sentiments turned bearish across global markets on concerns of economic recovery. The worst hit were realty, metals and power stocks while FMCG space showed some resistance. 

National Stock Exchange’s Nifty ended at 5,505.10, down 38.40 points or 0.69 per cent. The index touched intraday low of 5,488.45 and high of 5,547.25. 

Bombay Stock Exchange’s Sensex closed at 18,311.59, down 97.76 points or 0.53 per cent. The index touched intraday low of 18,260.71 and high of 18,451.73. 

“Market can correct to 18,000-5,440 (Sensex / Nifty) which are good buying levels. Sugar and midcap pharma stocks may see some movement tomorrow,” said Bharat Gala, President, Ventura Securities. 

http://economictimes.indiatimes.com/markets/global-markets/Nifty-ends-at-5500-on-weak-global-cues/articleshow/6426683.cms


The U.S. financial sector headed lower early Tuesday, following losses in European and Asian markets as investors continue to fret about signs that the global economic recovery is losing momentum.   http://www.marketwatch.com/story/financial-stocks-slip-for-fourth-straight-day-2010-08-24?siteid=yhoof