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erienewsnow.com 10 Jan, 2022 14:45 am

Why shares of homebuilders just plunged - Erie News Now

Why shares of homebuilders just plunged - Erie News Now
By Julia Horowitz, CNN Business

By Julia Horowitz, CNN Business Looming interest rate hikes are slamming US tech stocks, which dropped sharply last week as investors reassessed how higher borrowing costs could hit their portfolios."It was an insane year," Matt Holm, an agent with Compass in Austin, Texas, recently told my CNN Business colleague Anna Bahney.That's a question the UK government is under mounting pressure to answer as British households cope with skyrocketing bills, my CNN Business colleague Charles Riley reports.Breaking it down: Major brands are cutting back on the number of outside retailers that carry their goods, my CNN Business colleague Nathaniel Meyersohn reports.

What's happening: Shares of US homebuilders including Toll Brothers, Lennar and PulteGroup were among the biggest losers on Friday.Shares of Toll Brothers rallied almost 67% in 2021, compared to a 27% jump in the S&P 500.

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