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New home sales for February fell to an annualized rate of 250,000 from the prior month's upwardly revised rate of 301,000.
The lower-than-expected tally is close to a record low and has caused stocks to pull back from a recent upturn. The broad market now sits at its morning low.
Declining Sectors: Financials (-1.1%), Utilities (-0.8%), Consumer Discretionary (-0.8%), Telecom (-0.6%), Health Care (-0.6%), Industrials (-0.5%), Energy (-0.5%), Materials (-0.5%), Tech (-0.4%), Consumer Staples (-0.3%).
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