U.S. stocks fall on sluggish economic data

- U.S. stocks ended lower Wednesday on sluggish housing and manufacturing report.

In the closing trading, the Dow Jones Industrial Average was down 49.71, or 0.41 percent, to 12,031.02. The Standard & Poor's 500 index fell 10.13, or 0.74 percent, to 1,367.81, and the Nasdaq composite index dropped 32.36, or 1.37 percent, to 2,334.35.

On the data front, the slowed housing market and cooling manufacturing raised concerns over economic growth. The Commerce Department said on Wednesday that spending on construction projects dropped by 0.3 percent in September. Meanwhile, the Institute for Supply Management said its manufacturing activity index fell to 51.2 in October, the lowest since June 2003.

Oil prices fell slightly Wednesday as U.S. crude oil supplies rose but refined fuel stocks fell.

Source: Xinhua