US existing home sales dropped 0.5% MoM in April (considerably worse than the +2.0% MoM rise expected), dropping to just 4.00MM sales SAAR, with sales down 3.1% from a year earlier on an unadjusted basis

This is the weakest April sales pace since April 2009...

Sales declined in the West and Northeast, were unchanged in the South and improved in the Midwest.