FAULT LINES: A series of weak economic reports sent the stock market plunging to its lowest level in a month. Troubling economic data included weak hiring at private companies, orders to U.S. factories that were lower than expected and sluggish job growth in the service sector.
FALLING APPLICATIONS: Mortgage applications dropped 11.5 percent from a week earlier. The decline came as mortgage rates rose the highest point since April 2012. That's bad news because the rebound in housing has been one of the key factors supporting the stock market's record-breaking rally this year.
RED ALL OVER: Investors were already jittery before the market opened. U.S. stocks joined a global rout Wednesday that began overnight in Asia. Japan's benchmark Nikkei 225 index plunged 3.8 percent and European stock markets also dropped.
Source: http://news.yahoo.com/news-summary-stocks-fall-weak-215334815.html
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