US equities continued to decline as ominous earnings warnings further highlighted concerns for sluggish global economic growth. Even positive releases by the Beige Book on the housing sector failed to hold up the market. The Dow Jones Industrial Average index plunged 128.56 points, or -0.95%, to close at 13,344.97 while the S&P500 index lost 8.92 points to close at 1,432.56.
According to data released by the Fed’s beige book, a commentary on current economic conditions, the housing market in the US showed over-all improvement following the economy’s modest expansion in late August and September. Which makes investors in online silver dimes optimistic.
The report, noting strength in housing across all 12 Fed districts, stated that residential real estate showed broad improvement since the last report. It was also noted that prices in some districts went up due to shrinking inventories, and that some regions saw healthy growth in multifamily unit construction. Meanwhile, the jobs market was barely changed with some districts noting that concerns over the coming presidential election, the country’s budget outlook and the Euro-zone’s fiscal crisis were holding back employers from hiring new workers.