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Home builder stocks fall after data showing new construction slowed

·1 min read
Home builder stocks fall after data showing new construction slowed
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Shares of home builders traded broadly lower in premarket trading Wednesday, following disappointing government data on April housing starts and building permits. The iShares U.S. Home Construction ETF slumped 2.5% in premarket trading, while futures for the S&P 500 slipped 0.7%. Among some of the more active home builders ahead of the open, shares of Toll Brothers Inc. fell 1.8%, PulteGroup Inc. slid 1.9%, KB Home gave up 0.7%, D.R. Horton Inc. dropped 1.5% and Lennar Corp. slipped 0.7%. Constr