Lennar Corporation shares fell 9% in Thursday’s premarket session after the homebuilder blamed rising mortgage costs for a slowdown in its sales that saw it fall short of analysts expectations.

The Dow hit a 10th straight day of losses, its worst streak since 1974, as stocks plummeted amid the outlook for fewer rate cuts in 2025.

The S&P 500 fell 2.9%, just shy of its biggest loss for the year, to pull further from its all-time high set a couple weeks ago. The Dow Jones Industrial Average lost 1,123 points, or 2.6%, and the Nasdaq composite dropped 3.6%.