Plunging Home Sales Weigh Down Markets To Lower Close

A sharp drop in 2006 home sales weighed down the markets to a lower close despite upbeat earnings. The Dow plummeted 119 points to 12,503 while Nasdaq plunged 32 points to 2434. S&P 500 tumbled 16 points to 1424. The 30-year bond eased as the yield rose to 4.96%.