The Nasdaq Composite (NASDAQINDEX: ^IXIC) saw the biggest percentage drop, but how the Dow Jones Industrial Average (DJINDICES: ^DJI) and the S&P 500 (SNPINDEX: ^GSPC) fared wasn't all that much better. One hint that could provide some useful answers to that question came from the housing market, as a couple of key companies weighed in with their most up-to-date readings on the health of housing. Below, we'll look more closely at the latest news from Lennar (NYSE: LEN) and D.R. Horton (NYSE: DHI) to see whether investors really need to be paying more attention to housing.
Wall Street fell in a broad sell-off on Monday, with the S&P 500 and Nasdaq suffering their biggest daily percentage drops since May, as fear of contagion from potential collapse of China's Evergrande drove investors out of equities in a flight for safety. The Nasdaq also hit its lowest level in about a month, but indexes pared losses just before the close to end well off their lows of the session. The Nasdaq was down more than 3% during the day.
Wall Street plunged on Monday as fear of contagion from a potential collapse of China's Evergrande prompted a broad sell-off and sent investors fleeing equities for safety. The Nasdaq fell to its lowest level in about a month, and Microsoft Corp, Alphabet Inc, Amazon.com Inc , Apple Inc, Facebook Inc and Tesla Inc were among the biggest drags on the index as well as the S&P 500.