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Bears Drive Down Stocks on Housing, Economic Data

Stock quotes in this article: YHOO , MSFT , GM , FNM , F , GE , C  

Updated from 1:58 p.m. EST

U.S. stocks were plumbing negative territory Wednesday, as economic studies revealed that homebuilding slowed to levels last seen in the 1950s and consumer prices recorded a record decline.

The Dow Jones Industrial Average was losing 207 points to 8218, and the S&P 500 was down 30 points to 830. The Nasdaq was falling 55 points to 1428.

Investors appeared hesitant to buy in the face of significant declines in the housing market. The Census Bureau said that housing starts declined 4.5% to an annual rate of 791,000 for October, the largest one-month decline on government records dating back to 1959. ...

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