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Stocks Plunge Ahead of Eurozone Summit

Category : Stocks

NEW YORK (TheStreet) — Stocks fell sharply Monday morning as a better-than-expected new home sales report failed to mollify investor anxiety about the potential outcome of the eurozone summit later this week.

The Dow Jones Industrial Average was shedding 153 points, or 1.21%, at 12,484. The S&P 500 was down more than 20 points, or 1.51%, at 1315, and the Nasdaq was plunging 50 points, or 1.73%, at 2842.

The Commerce Department reported Monday the U.S. new-home sales rose more than expected in May to a seasonally adjusted annual rate of 369,000 — the best levels going back to April 2010. …

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