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Dow drops 250 points, led by technology, AT&T shares

Stocks (^DJI^GSPC, ^IXIC) fall following new home sales decline. The utilities sector (XLU) is the most in the green, and the materials sector (XLB) is the most in the red. Jared Blikre joins us live from the floor of the New York Stock Exchange to talk markets. To discuss the other big stories of the day, Yahoo Finance’s Adam Shapiro and Seana Smith are joined by Melody Hahm, Myles Udland, Brian Sozzi, and Heidi Cheung. Also joining the show: Barry Bannister, Phillip Streible, David Armstrong, and Paul Rabil.

FILE PHOTO: A man works on a new home for sale in Chicago REUTERS/John Gress/File Photo