Existing-Home Sales Fall To Record Low

Sales of existing U.S. homes sank to a record low in September, part of a slew of bad news Wednesday that sparked renewed fears about the economy and hopes for aggressive Fed action.

Home resales fell 8% to an annualized 5.04 million last month, the lowest since the National Association of Realtors began tracking combined home and condo sales in 1999. Economists had expected sales to fall to 5.25 million.