Posted AT 6:25 PM EST on 13/03/07
Markets tumble on U.S. housing woes
NEW YORK — Stocks across North America plunged Tuesday, with the Dow Jones industrials down more than 240 points in their second-biggest drop of the year, while Toronto's S&P/TSX composite skidded more than 250 points, snapping a five-day winning streak.
Investors, bracing for a wilting U.S. economy, fled the already deflated subprime mortgage sector while problems increased for home lenders such as New Century Financial Corp.
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