2007 May 24 financial flash

Stocks Down Sharply After Home Sales Data

AP -

Wall Street retreated Thursday after new housing data showed sales surged in April by the largest amount in 14 years, damping hopes that an interest rate cut would be needed to stimulate the economy.

• Video: Consumer Confidence Hurt by Gas Prices ABC News
• Home Sales Soar by Record Level; Prices Plummet AP
• Best Buy Accused of Overcharging Buyers AP
• Dell to Sell Computers at Wal-Mart AP