Retailers and other consumer companies fell sharply after another batch of weak housing data.
Sales of previously owned homes declined 1.5% in September from the prior month to a seasonally adjusted annual rate of 4.71 million, the weakest rate since May 2020, the National Association of Realtors said. A spike in mortgage rates has weighed on the housing sector.
Tobacco giant Philip Morris International boosted its offer for smokeless tobacco specialist Swedish Match and agreed to pay $2.7 billion to regain the U.S. rights for its IQOS heated tobacco products from Altria Group.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
10-20-22 1724ET
