Stock Market Today

World markets: European markets stumbled across the board, with Britain’s FTSE 100 losing 3.1%, Germany’s DAX giving back 3.3% and France’s CAC 40 falling 4%.

Asian markets slumped. Japan’s Nikkei fell 1.3%, Hong Kong’s Hang Seng slid 2.3% and China’s Shanghai Composite slumped 4.3%.

Housing market: Home prices rose 3.8% in April versus a year ago, according to the S&P/Case-Shiller Home Price Index of 20 major housing markets. That was a bigger jump than expected, with economists looking for a climb of 3.4% after a boost of 2.3% in March. Home prices also rose 0.8% in April from March levels.

However, prices remain off over 30% from the peak.

Companies: Electric car maker Tesla Motors debuted on the Nasdaq under the ticker TSLA, rising 12% from its IPO price late Monday.

Tesla priced its shares at $17 each, above the $14 to $16 target range, allowing it to raise over $226 million in the IPO.

Currency: The euro slumped 0.7% versus the dollar but remained above the four-year low of $1.188 hit earlier in the month. The dollar was down 1.1% versus the yen.

Commodities: U.S. light crude oil for August delivery fell $2.83 to settle at $75.94 a barrel on the New York Mercantile Exchange.

COMEX gold for August delivery gained $3.60 to $1,242 an ounce.

Bonds: Treasury prices rallied, lowering the yield on the 10-year note to 2.97% from 3.03% late Monday. Treasury prices and yields move in opposite directions.

Market breadth: Market breadth was negative and volume was moderate. On the New York Stock Exchange, losers beat winners 11 to one on volume of 1.6 billion shares. On the Nasdaq, decliners topped advancers eight to one on volume of 2.58 billion shares