Housing index drops to near eight-month low after Trump tariffs

PHLX Housing index .HGX falls 1% to lowest level since July 2024

U.S. President Donald Trump hits Canada and Mexico with 25% tariffs, doubles duties on Chinese goods to 20%

Canada responds with tariffs on select U.S. goods

U.S. homebuilders likely to see rising costs as duties imposed on raw imports

Tariffs add to concerns about slowing U.S. economic growth, which would hit demand for new houses

Construction materials supplier Owens Corning OC.N falls 3.4%, insurance co Radian Group RDN.N dips 3.2%, the biggest housing index decliners

Homebuilder Toll Brothers TOL.N drops 0.6%, heating and air conditioning company Lennox International LII.N dips 2.7%

However, some homebuilder stocks turn positive: D.R. Horton DHI.N up 0.9%, Pultegroup PHM.N gains 1.4%, Lennar LEN.N gains 1%

Including day's moves, housing index has fallen 5.5% YTD