Stocks Mostly Down after Housing Data

U.S. stocks retreated  in the midday trading on Wednesday after data illustrating a decline in existing-home sales in February.  The Dow Jones Industrial Average lately fell 31.03 points to 13,139.16. The S&P 500 Index was of 1.82 point to 1,403.70. The Nasdaq Composite rose 4.71 points to 3,078.86.

Home resales unexpectedly fell in February and the supply of properties on the market rose. The National Association of Realtors said on Wednesday existing home sales slipped 0.9 percent to an annual rate of 4.59 million units last month.

A proposed 30 percent minimum tax on millionaires backed by President Barack Obama – dubbed the Buffett tax after investor Warren Buffett who supports it – would raise about $47 billion over a decade, according to a congressional report.