Stock open lower after home prices drop

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NEW YORK (AP) — Stocks are opening lower slightly following a report that home prices fell in major U.S. cities.

The Standard & Poor’s/Case-Shiller of home prices dropped in October in 19 of the 20 cities it tracks. It was a second straight declining month, further evidence of a bumpy housing recovery.

Markets were closed Monday in observance of Christmas. They opened Tuesday with thin trading in the last week of the year.

The Dow Jones industrial average is down 23 points, or 0.2 percent, at 12,270 in early trading. The S&P 500 is down 3, or 0.2 percent, at 1,262. The Nasdaq is down 7, or 0.3 percent, at 2,611.