Stocks fell broadly at the opening bell on Monday on concerns about financial institutions' mounting losses after Citigroup Inc said it may have to write off as much as $11 billion for risky credit.

In the first minutes of trading, the Dow Jones industrial average was down 93.32 points, or 0.69 percent, at 13,501.78. The Standard & Poor's 500 index was down 12.27 points, or 0.81 percent, at 1,497.38. The Nasdaq Composite Index was down 33.22 points, or 1.18 percent, at 2,777.16.