Stock Market Today: Stocks Turn Lower After Disappointing Housing Data

Stocks hinted at a potential rebound early Monday, but hopes for a bounce from last week’s Fed-induced selloff faded as the session wore on. This week will likely see lower trading volume than usual in the lead up to the Christmas holiday. 

As for market participants who were around today, they were hit with another sign of a slowing economy courtesy of the latest housing data, which only elevated fears of a potential recession in 2023. The major market indexes reacted by adding to their already steep December losses.