US stocks eased in choppy trading on Wednesday after data pointed to yet more weakness in housing, suggesting the recession is deepening.
Data showed US housing starts and building permits dropped to record lows in January, with construction plans scrapped as unsold houses stood empty.
Shares of financial companies, big manufacturers and home builders suffered as the market stuck at three-month lows.
The housing data overshadowed the unveiling of President Barack Obama's plan pledging up to $US275 billion to stem foreclosures.
Investors worried the plan would be no quick fix and there was uncertainty about how it would work.
The Dow Jones industrial average was off 34.00 points, or 0.45%, to 7,518.60.
The Standard & Poor's 500 Index lost 5.37 points, or 0.68%, at 783.80.
The Nasdaq Composite Index was down 7.34 points, or 0.50%, at 1,463.32.
