Pursuits
U.S. Stocks Tumble on Europe Concern as Housing Data Disappoints
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U.S. stocks fell, putting the Standard & Poor’s 500 Index on pace for its worst month since September, as housing data disappointed and concern grew about Greece’s future in the euro and the health of Spanish banks.
A measure of homebuilders in S&P indexes sank 4.9 percent. Sears Holdings Corp. slumped 9 percent, pacing declines in retail stocks, ahead of tomorrow’s industrywide monthly sales report. Research In Motion Ltd. dropped 7.8 percent after forecasting a surprise operating loss and hiring banks to advise on strategic options. Facebook Inc. retreated 2.3 percent, extending its decline since it went public to 26 percent.