Fresh credit worries drag shares lower at open

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.