Stocks Just Dropped

Stocks just dropped quickly.

The Dow is down 67 points, the S&P 500 is down 10 points, and the Nasdaq is down 31 points.

These are near session lows for all of the major averages.

Stocks opened the day lower but were trading in a narrow range as volume is light as we’re sandwiched between the Christmas and New Years holidays.

Here’s the quick drop.

Overall, it’s a quiet day in the markets, but on Tuesday we did get two pieces of economic data, first from the housing sector and then from consumer confidence.

The Case-Shiller home price index rose 0.7% month-on-month in October, better than then 0.4% increase that was expected, though on a year-on-year basis, home prices rose 4.5% less than the 4.9% they did in September but better than the 4.4% rise that was expected by economists.

Consumer confidence also ticked higher in December, to 92.6 from 88.7 in November, though this reading was a bit less than expected. 

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