August 25, 2010- The Dow Jones Industrial Average dropped 62 points on Wednesday after weaker-than-expected reports on both durable goods orders and new-home sales for July.

The drop in new home sales was 12.4%, the lowest in record. The home sales decreased after the home buyer tax credit expired at the end of April.

In the global market,Germany’s DAX index slipped 0.8%, Britain’s FTSE 100 dropped 1.1%, France’s CAC-40 fell 1.5%, and Japan’s Nikkei stock average fell 1.7%.