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Citigroup, credit concerns hamper stocks

NEW YORK
Mon Oct 15, 2007 4:10pm EDT
A sign over the floor of the New York Stock Exchange on August 16, 2007. REUTERS/Brendan McDermid

NEW YORK (Reuters) - U.S. stocks fell on Monday after a gloomy outlook from Citigroup Inc. and news that big banks were forming a fund to shore up the commercial paper market dashed investor hopes for a fast resolution to the global credit crunch.

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The Dow Jones industrial average .DJI was down 106.98 points, or 0.76 percent, at 13,986.10. The Standard & Poor's 500 Index .SPX was down 12.84 points, or 0.82 percent, at 1,548.96. The Nasdaq Composite Index .IXIC was down 25.63 points, or 0.91 percent, at 2,780.05.
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