European Woes Worries Dow; Many Tracked Housing Stocks Follow

CNNMoney reports investors shied away from the stock market as fears rose anew concerning the possible failure of Spain’s banking system, leading to a rush of investments in U.S. Treasuries. The Dow Jones Industrial Average dropped a little more than what it gained yesterday, falling -160.83 points, -1.28% percent, to close at 12,419.86. The Nasdaq fell -1.17 percent to 2,837.36, while the S&P lost -1.43 percent, to 1,313.32. Meanwhile, the Yahoo! Finance Manufactured Housing Composite dropped -3.74 percent to close at 973.3. Housing stocks we track mostly closed down. Third Avenue Value Fund gained the most of stocks we follow, adding +1.58%, +0.66, to close at 42.54 (5-29). Skyline Corp. fell the most of tracked stocks, -5.65%, -0.29, to close at 4.84, although Cavco was not far behind. Affiliated Managers Group 103.07 -4.11(-3.83%). Cavco Industries 42.54 -2.35 (-5.24%). Clayton Homes, Vanderbilt Mortgage and Finance, as well as MH home-building, lending and other housing suppliers parent company Berkshire Hathaway 119,250 -883.00 (-0.74%). Champion, Liberty Homes, Deer Valley and Palm Harbor all remained unchanged. Drew Industries 26.30 -0.62 (-2.30%). Equity Lifestyle Properties 66.52 -1.38 (-2.06%). Louisiana Pacific Corp. 9.51 -0.47 (-4.71%). Nobility Homes 6.85 +0.0207 (+0.30%). Sun Communities 40.50 -0.65 (-1.58%). United Forest Products, Inc. 37.20 -0.87 (-2.29%). UMH Properties 10.31 -0.19 (-1.81%).

(Graphic credit: CNNMoney and RealTick)

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