Dow Drops a Bundle, Many Housing Stocks Tumble

CNNMoney reports 30 minutes into the trading day stocks began plummeting amid fears of Italy’s worsening debt crisis coupled with the European Union’s lack of a plan to rescue Europe’s fourth largest economy. The Dow Jones Industrial Average fell a whopping 389.24 points, losing 3.20 percent to close at 11,780.94. The Yahoo! Finance Manufactured Housing Composite Value dropped 0.69 percent to close at 863.7. All but one of the housing stocks we track fell. Affiliated Managers Group 88.73 -5.37 (-5.71%). Clayton Homes, Vanderbilt Mortgage and Finance and other MH home-building, lending and other housing suppliers parent company Berkshire Hathaway 113,325.00 -3,875.00 (-3.31%), up 75 to 113,400 in after hours trading. Cavco Industries 45.32 -1.71 (-3.64%). Champion, Deer Valley, Liberty, and Palm Harbor were all unchanged. Drew Industries 22.15 -1.25 (-5.34%). Equity Lifestyle Properties 63.35 -2.88 (-4.35%). Nobility Homes 6.55 -0.10 (-1.50%) Patrick Industries 2.59 -0.01 (-0.38%). Skyline Corporation lost the largest percentage of our tracked stocks, down 7.31 percent to 6.47, losing -0.51. Sun Communities 36.74 -1.50 (-3.92%). Third Avenue Value Fund (11-08) was the only gainer among tracked stocks, inching up 1.41 percent to close at 44.62, a gain of +0.62. UMH Properties 10.01 -0.33 (-3.19%). Universal Forest Products, Inc. 25.91 -1.87 (-6.73%).

(Graphic credit: CNNMoney and RealTick)

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