Markets drop on house news and rate hike in July, Tesla rises
Wall Street's major indexes tumbled Tuesday as higher-than-expected housing data sparked fears of further interest rate hikes by the US Federal Reserve, while Tesla stock rose after Rivian agreed to adopt its charging standard. fees.
Single-family home construction in the US rose in May to its highest level in more than a year, and permits for future construction rose as well, suggesting that the housing market may be changing.
“We have seen new home builds and building permits coming in much stronger than expected, and it looks like the economy remains stronger than expected despite...