Stocks Sell Off After Two Ugly Housing Numbers, And Inflation Heating Up

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None of the big economic data was very helpful this morning.

Housing starts plunged, as did new mortgage applications, but much worse than expected. And the CPI is ticking up again, faster than thought, perhaps worrying folks concerned the Fed won’t be able to keep money cheap forever.

So after rising earlier, we’re not looking at a downward open, with the S&P now down by abount a point, and the Dow Jones down by around 7. Not huge, but a reversal on the data.

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