Scoreboard: Iron ore misery

Iron ore prices dropped to a new five-year low, while Wall Street weakened following the release of Federal Reserve minutes.

In the US, housing starts fell by 2.8 per cent to a 1.009 million annual rate in October. Analysts had tipped a result near 1.025 million. But building permits were stronger than expected, up 4.8 per cent. The mortgage market index rose by 5.2 per cent in the latest week. And there were net capital outflows totalling $US55.6m in September.

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