DealBook: U.S. Stocks Tumble on Another Day of Global Upheaval

LOOKING AHEAD

Housing Data Several important data points on the United States housing market will be released this week. On Tuesday, a Standard & Poor’s/Case-Shiller index is likely to show that home prices in 20 cities rose over the year ending in June. Demand for homes is building, pushing up prices. Also on Tuesday, a report from the Commerce Department will probably show that purchases of new homes increased in July after a surprise decrease in June. More good news is expected from the National Association of Realtors on Thursday as the group reports pending sales of existing homes for July. Sales were unexpectedly down in June, but may well have bounced back. – Dionne Searcey

Cholesterol Fighters The Food and Drug Administration is expected by Thursday to approve Repatha, a powerful cholesterol-lowering drug from Amgen. That will set the stage for a market battle with Sanofi and Regeneron Pharmaceuticals, which won approval for their similar drug, Praluent, last month. Both drugs use the same mechanism and can lower LDL cholesterol, the so-called bad kind, by 40 percent or more beyond what can be achieved with statins like Lipitor. Insurers hope competition will lower costs. Praluent’s list price is $14,600 a year, prompting concerns that these new drugs will strain health plan budgets. – Andrew Pollack

Fit Topic for the Fed in Jackson Hole Janet L. Yellen, the Federal Reserve chairwoman, is skipping the annual gathering of central bankers in Jackson Hole, Wyo., which runs Thursday through Saturday. But other Fed officials, including the vice chairman, Stanley Fischer, will be on hand for the conference, hosted by the Federal Reserve Bank of Kansas City. This year’s topic, “Inflation Dynamics and Monetary Policy,” is particularly timely. The Fed is struggling to decide whether inflation is strong enough to start raising interest rates, and the next meeting of its policy-making committee is coming up in mid-September. – Binyamin Appelbaum

Mylan Considers Perrigo Bid on Friday Shareholders in Mylan, a big maker of generic drugs, are scheduled to vote on Friday on a matter related to the company’s $36 billion hostile takeover bid for another pharmaceutical company, Perrigo. The vote – on whether Mylan can issue new stock for the offer – will be a pivotal step in moving forward with that bid. While an influential advisory firm has recommended that investors vote no, two of Mylan’s biggest shareholders have publicly supported the Perrigo offer. – Michael J. de la Merced

Japan Faces Consumer Price Decline Government data, due on Friday, is expected to show Japan’s core consumer prices fell 0.2 percent in July from a year ago. Japan’s core consumer price index rose 0.1 percent in June. Prime Minister Shinzo Abe has been trying to pull the economy out of nearly two decades of deflation through a stimulus program known as Abenomics. Although the program has increased profits at big corporations, it has also left many ordinary Japanese saying they feel few benefits. Japan’s economy has struggled to grow consistently. Last week, Japan announced its gross domestic product fell at an annualized rate of 1.6 percent in the three months through June, weighed down by dwindling exports and weaker consumer spending. Despite the recent economic contraction, analysts have expressed optimism that consumption will pick up and Japan will eventually return to growth in the current quarter.