NEW YORK — Stocks are closing lower after another disappointing report on housing renewed worries about the economy.
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 Dow dipped below 10,000 for the first time in seven weeks. The yield on the two-year Treasury note reached another record low.
According to preliminary calculations, the Dow fell 134, or 1.3 percent, to 10,040. The Standard & Poor's 500 index fell 15, or 1.5 percent, to 1,052, while the Nasdaq fell 36, or 1.7 percent, to 2,124.
Three stocks fell for every one that rose on the New York Stock Exchange, where volume came to 1.2 billion shares.