New York - US stocks fell on Tuesday amid a drop in consumer confidence and concerns about unemployment, even as data showed housing prices soared in July by the most in four years. Consumer confidence dropped fell to 53.1 points from a revised 54.5 in August, amid rising unemployment, the New York-based Conference Board said Tuesday.
Investors were also concerned about September unemployment figures that are due out Friday. The US unemployment rate jumped to 9.7 per cent in August, soaring to a 26-year-high, as employers slashed an additional 216,000 jobs.
The S&P/Case-Shiller index of home prices in 20 cities rose 1.2 per cent in July from the previous month, its highest jump since October 2005.
The blue-chip Dow Jones Industrial Average shed 47.16 points, or 0.5 per cent, to 9,742.20. The broader Standard & Poor's 500 Index lost 2.37 points, or 0.2 per cent, to 1,060.61. The technology heavy Nasdaq Composite Index slipped 6.70 points, or 0.3 per cent, to 2,124.04.
The US dollar was valued at 68.58 euro cents and 90.14 Japanese yen.
