Weaker Than Expected US Home Sales Sends Stocks Lower

An unexpected drop in US existing home sales, sent global stock markets and oil prices lower Wednesday. Sentiment was sluggish across Asia and Europe on new worries over the strength of the U.S. economic recovery after sales of previously occupied homes unexpectedly fell 2.2 per cent in May. Economists had expected them to rise by 5 per cent.

Source: Associated Press

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