NEW YORK CITY-The stock market plummeted for a fourth day after an unsatisfying report on housing exacerbated concerns of US economic recovery. Due to the news that home sales fell by 27% in July, the Dow Jones Industrial Average lost 134 points on Tuesday.
The shares of Dow dropped below 10,000 and within four days it has lost up to 375 points. The high unemployment rate and the expiration of homebuyer tax credit were the main factors keeping home sales down. For the full story, go to The Detroit Free Press.
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