US housing starts fell 15.4% month-on-month in May 2026, reaching a seasonally adjusted annual rate of 1.177 millionUS Markets end mostly in red on Tuesday – Latest News
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17 Jun 2026
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US Markets ended mostly in red on Tuesday ahead to the Federal Reserve’s impending interest rate decision and new Chair Kevin Warsh’s policy stance. Traders remained cautious as the Commerce Department released a report showed US housing starts fell 15.4% month-on-month in May 2026, reaching a seasonally adjusted annual rate of 1.177 million, the lowest since May 2020. This follows a downwardly revised 1.392 million in April and fell short of market forecasts of 1.43 million. The data indicates that high mortgage rates are curbing builder activity, with contractors adopting a cautious approach as they reduce the inventory of new homes for sale due to sluggish demand. Traders also took a note of a report released by the Labor Department showed US import prices rose 1.9% from the previous month in May of 2026, extending the upwardly revised 2% increase from the earlier period, which was the fastest rise in four years, and well above market expectations of a 1% increase. Imports of fuel and lubricants surged by 12.5% from the previous month as the war in the Middle East continued to prevent energy exports from Persian Gulf countries, lifting oil and product prices across the globe.Â
Nasdaq slipped 307.59 points or 1.15 percent to 26,376.34 and S&P 500 was down 42.94 points or 0.57 percent to 7,511.35, while Dow Jones Industrial Average increased 328.64 points or 0.64 percent to 51,999.67.Â
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