The Dow Jones index tumbled more than 7%, sinking to a three-year bottom.
At 12:36 p.m. ET the Dow Jones Industrial Average traded at 19,701.23 points, below the 19,732.40 points it closed at on Jan. 19, 2017. The Dow Jones still managed to remain 1,400 points above its level on Nov. 7, 2016.
U.S. homebuilding dropped last month, falling down by a sharp decline in the construction of multifamily housing units.
Housing starts fell 1.5% to a seasonally adjusted annual rate of 1.599 million units last month, according to the Commerce Department said on Wednesday.
Tesla (TSLA) – Tesla ceased its production in Fremont, California, factory, despite. This comes despite CEO Elon Musk’s initiative to preserve its operations.
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