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Stocks fall on housing and retail worries


    NEW YORK (Reuters) - Stocks fell in thin volume on Tuesday, with the major indexes giving up more than 1 percent as housing data showed a steep drop in home values and continued concerns about the U.S. economy weighed on retailers, undermining the market's earlier gains.

    * General Motors was among the top drags on the Dow as investors contemplated whether last weekend's $17.4 billion aid package from the U.S. government will provide enough of a lifeline for automakers to avoid bankruptcy.

    * The Dow Jones industrial average fell 116.29 points, or 1.36 percent, to 8,403.48. The Standard & Poor's 500 Index tumbled 9.98 points, or 1.14 percent, to 861.65. The Nasdaq Composite Index lost 19.11 points, or 1.25 percent, to 1,513.24.

    (Reporting by Leah Schnurr; Editing by Jan Paschal)