(Bloomberg) -- Japanese stocks declined after profit
warnings from U.S. retailers increased concern the housing slump
is spreading to other parts of the economy. Toyota Motor Corp.
was poised to drop as selling pressure on exporters was amplified
by the second-biggest jump in the yen this year.
Standard & Poor's 500 Index fell 1.4 percent, its worse
decline in a month. Companies such as Sears Holdings Corp. and
Home Depot Inc. said yesterday profits may drop as sales decline,
indicating that a weak housing market and rising defaults on
subprime loans may be affecting consumer spending.
Read more at Bloomberg Stocks News
warnings from U.S. retailers increased concern the housing slump
is spreading to other parts of the economy. Toyota Motor Corp.
was poised to drop as selling pressure on exporters was amplified
by the second-biggest jump in the yen this year.
Standard & Poor's 500 Index fell 1.4 percent, its worse
decline in a month. Companies such as Sears Holdings Corp. and
Home Depot Inc. said yesterday profits may drop as sales decline,
indicating that a weak housing market and rising defaults on
subprime loans may be affecting consumer spending.
Read more at Bloomberg Stocks News
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