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By Guillermo Parra-Bernal

SAO PAULO, July 7 (Reuters) - Brazilian stocks fell for the fourth straight session on Tuesday as talk of a need for a second government stimulus package in the United States ignited concern over the global economic recovery.

The United States should be planning for a possible second round of fiscal stimulus to further prop up the economy after a rescue package launched in February, an adviser to President Barack Obama said on Tuesday.

In addition, investors are moving cautiously ahead of the start of the U.S. earnings season.

"Although I am sure that Brazil will resist the current wave of unfavorable news, investors rushed to buy in anticipation of a recovery that seems now far from certain," said Alexandre Povoa, who manages 1.3 billion reais ($660 million) in assets for Modal Asset Management in Rio de Janeiro.

The Bovespa stock index .BVSP slid 2.3 percent to 49,456.7, its lowest level since May 15. Preferred shares of Vale (VALE5.SA: Quote, Profile, Research) led declines on concern a plan to sell convertible notes may dilute the value of shareholdings.

The index may continue falling in coming days, as indicated by stock futures contracts. The futures contract due in August INDQ9 closed 2.54 percent lower at 49,850 points.

"People are taking advantage of the volatility and the deterioration of investor sentiment to book some profits," said Helena Biasotto, who helps manage about 5 billion reais ($2.6 billion) in assets for Banrisul in Porto Alegre, Brazil.