Stocks fell again yesterday after another early rally fizzled, extending a month-long plunge from record highs to 10 per cent.

The Dow Jones industrial average surrendered an early 97-point gain and finished 34.50 points lower at 8,425.00, its lowest close since February and 9.8 per cent below July 17th's peak of 9,337.97.

Declining issues outnumbered advancers by a 5-to-4 margin on the New York Stock Exchange, with 1,321 up, 1,670 down and 534 unchanged. NYSE volume totalled 632.57 million shares. The NYSE composite index fell 5.35 to 535.71, and the American Stock Exchange composite index fell 5.14 to 662.64.