In the news from CNNMoney: China slowdown, oil slides, troubled economies in Brazil and Russia and possible rise in interest rates feed malaise and stock sell-off. Oil price drop could hurt Iran’s comeback. Existing home sales rose sharply. Top three cities for new businesses: Manchester, NH, Dallas, Richmond, VA.
Meanwhile, the Yahoo Manufactured Housing Composite Value (MHCV) sank -3.83 percent to end at 921.8. All manufactured housing stocks we cover dropped, or closed even, except Sun Communities which inched up +0.62 percent to close at $68.61. Patrick Industries fell the most of tracked stocks, -4.65 percent, at $37.51.
On the Big Board:
The Dow Jones Industrial Average plummeted -2.06 percent, -358.04 points, ending below 17,000 for the first time since October at 16,990.69.
The NASDAQ dropped sharply the most of the three major indices -2.82 percent, -141.56 points to close at 4,877.49.
The S&P 500 fell -2.11 percent, -43.88 points, to finish at 2,035.73.
As of 4 PM ET, CNNMoney Finance tells MHProNews:
Affiliated Managers Group, Inc. (NYSE: AMG) $196.85 -4.92 (-2.44%).
Berkshire Hathaway Inc. (NYSE:BRK.A) – parent company to Clayton Homes, 21st Mortgage, Vanderbilt Mortgage and other factory built housing industry suppliers – $207,862. -2,798.00 (-1.33%).
Carlyle Group (NASDAQ:CG) $21.52 -1.07 (-4.73%).
Cavco Industries, Inc. (NASDAQ:CVCO) $72.68 -1.48 (-2.00 %).
Deer Valley Corporation (OTCMKTS:DVLY) $0.65 0.00 (0.00%).
Drew Industries, Inc. (NYSE:DW) $55.88 -1.45 (-2.53%).
Equity LifeStyle Properties, Inc. (NYSE:ELS) $58.97 -0.26 (-0.43%).
Killam Properties Inc. (TSE:KMP) $10.23 -0.11 (-1.06%).
Liberty Homes, Inc. (OTCMKTS:LIBHA) $0.02 0.00 (0.00%).
Louisiana-Pacific Corporation (NYSE:LPX) $16.27 -0.55 (-3.27%).
Nobility Homes Inc. (OTCMKTS:NOBH) $10.15 0.00 (0.00%).
Patrick Industries, Inc. (NASDAQ:PATK) $37.51 -1.83 (-4.65%).
Skyline Corporation (NYSE:SKY) $3.26 0.00 (0.00%).
Sun Communities Inc. (NYSE:SUI) $68.61 +0.42 (+0.62%).
Third Avenue Value Instl (OTCMKTS:TAVFX) $54.85 -0.57 (-1.03%).
UMH Properties, Inc. (NYSE:UMH) $9.49 -0.10 (-1.04%).
Universal Forest Products, Inc. (NYSE:UFPI) $63.41 -0.75 (-0.08%). ##
(Graphic credit: CNNMoney)
Article submitted by Matthew J. Silver to Daily Business News-MHPronews.