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 story : D.R. Horton stock sinks to lead the S&P 500's losers as rising Treasury yields weigh on home builders #FinanceUSA #StockMarketNEWS Shares of D.R. Horton Inc. sank 5.8% in afternoon trading Friday,

@stockMarketNEWS 8 Days ago

Posted in: #FinanceUSA #StockMarketNEWS

D.R. Horton stock sinks to lead the S&P 500's losers as rising Treasury yields weigh on home builders #FinanceUSA #StockMarketNEWS
Shares of D.R. Horton Inc. sank 5.8% in afternoon trading Friday, enough to pace the S&P 500's decliners, as the continued rise in Treasury yields and mortgage rates weighs heavily on the home-builders sector. D.R. Horton's stock has now tumbled 11.9% this week, which would make it the biggest weekly drop since it slid 12.9% during the week ended April 3, 2020. Elsewhere, shares of Lennar Corp. dropped 3.9% and Toll Brothers Inc. slid 3.6%, while the iShares U.S. Home Construction ETF gave up 3.8%. Also getting hit was home-improvement retailer Home Depot Inc.'s stock , which fell 2.5% to pace the Dow Jones Industrial Average's decliners. The yield on the 10-year Treasury note , which is used to calculate mortgage rates, rose 4.0 basis points to a 2-year high of 1.773%. The fear is that higher rates could make homes less affordable.


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