NEW YORK — Stocks fell for a fourth day after another disappointing report on housing deepened worries that the economic recovery could be fading. Bond yields fell as investors sought out more stable investments.
The Dow Jones industrial average lost 134 points Tuesday following news that sales of previously occupied homes fell last month to their lowest level in 15 years. The 27 percent drop in home sales from the previous month was the biggest since record-keeping began in 1968.
The Dow dipped briefly below 10,000 for the first time in seven weeks and has now lost 375 points since its four-day slump began. The yield on the two-year Treasury note reached another record low.
Other world markets also fell. Japanese stocks led the way lower, falling more than 1 percent as the yen hit a fresh 15-year high against the dollar. Japan's economy relies heavily on exports, so a stronger yen hurts the profits of major Japanese companies.
The Dow fell 133.96, or 1.3 percent, to 10,040.45 The Standard & Poor's 500 index fell 15.49, or 1.5 percent, to 1,051.87, while the Nasdaq fell 35.87, or 1.7 percent, to 2,123.76.
Japan's Nikkei stock average fell 1.3 percent after worries about the high yen hit share prices there.
In Europe, Britain's FTSE 100 fell 1.5 percent, Germany's DAX index dropped 1.3 percent, and France's CAC-40 fell 1.8 percent.
