Dow tumbles 129 on rate fears; Ford tops JD Power
CBS News
Transcript
[Music] can Wall Street reverse course the Dow chalked up at second straight big loss Wednesday as inflation fears now have investors betting on an interest rate hike in the coming months the Dow tumbled 129 points its biggest one-day drop in nearly a month the NASDAQ sank 24 investors will be focused on American spending habits today with a report on consumer credit which is expected to have jumped by 3 a. half billion in April that's on top of a 13.5 billion jump the previous month more pain to come in the housing market the National Association of Realtors predicts home prices will fall 1.3% this year nearly twice the drop forecast just two months ago prices for new homes are expected to fall 2.3% some good news for Ford JD Power and Associates initial quality study ranks Ford tops in more model segments than any other automaker the Mercury Milan Ford Mustang and Lincoln MKZ were among the cars taking top honors the study a widely regarded standard for new car quality surveys customers on defects and design problems after 90 days of ownership and the Vatican is going green reflecting Pope benedic the 16's worry about squandering the Earth's resources part of the Vatican including its 6300 seat Auditorium will start using solar energy next year that's your money watch log on to cbsnews.com for more in New York I'm Alexis christopherus