The markets extended its losses during the midday with the Dow falling 43 points to 18,503. Nasdaq dropped 23 points to 5,236.
Ford is recalling more than 113,000 vehicles worldwide to fix various defects. Fuel pump modules will be replaced in approximately 88,000 2013-2015 model year Ford Taurus sedans, Flex crossover utility vehicles, Police Interceptor sedans, Lincoln MKS sedans and Lincoln MKT SUVs. Approximately 2,500 2015-2016 model year Ford Transit vans will have their fuel-injection pumps replaced. The power window software in approximately 23,000 2017 Ford Escape SUVs must be recalibrated.
The National Labor Relations Board ruled that some of Chipotle's policies violated labor laws. The Chipotle employee handbook prohibits employees from discussing religion or politics in public, soliciting coworker support against a workplace policy in the visual or hearing range of customers, and using the Chipotle brand name. Chipotle must amend its policies to allow its workers freedom of speech.
Sales of existing homes dropped by a greater than expected 3.2% in July as inventory shrank. With fewer properties on the market, the median house price climbed 5.3%. The tight inventory also prompted a quicker turnaround time for sales. The number of days that a house stayed on the market fell from 42 days last year to 36 days.
In the broad market, declining issues outpaced advancers by a margin of nearly 2 to 1 on the NYSE and by more than 9 to 7 on Nasdaq. The broader S&P 500 fell 7 points to 2,179. Bitcoin lost $2 to $578.
