James Hardie stock plummeted 35% due to weak US housing market and hesitant homeowners on big projects. Profit dropped 28% in fiscal Q1, with net sales down 9%. CEO cited “softer demand” and a slowdown in construction. High interest rates impact stagnant sales and home equity projects, affecting Lowe’s and Home Depot.

Read more at Yahoo Finance: James Hardie stock collapses 35% as US housing slump hits building materials