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Stocks fall on housing, Eurodebt concerns

The Columbian
Published: November 30, 2010, 12:00am

NEW YORK (AP) — Stocks are opening lower following disappointing news on housing prices and more worries about the debt crisis in Europe.

The Standard & Poor’s/Case-Shiller index showed that home prices are falling faster in the nation’s largest cities. The home-price index fell 0.7 percent in September from August. Eighteen of the 20 cities recorded monthly price declines.

European markets were also lower. Asian markets fell on growing expectations that China will have to raise interest rates to keep inflation in check.

At the opening, the Dow Jones industrial average is down 92, or 0.8 percent, at 10,957. The Standard & Poor’s 500 index is down 11, or 0.9 percent, at 1,1177, while the Nasdaq composite index is down 25, or 1 percent, at 2,500.26.

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