Stocks Fell on Concerns about Fiscal Discord

U.S. stocks fell at the start of Tuesday’s session, as investors evaluated budget moves on Capitol Hill and earnings from corporations including Citigroup Inc. (C). The Dow Jones Industrial Average lately fell 66.52 points, or 0.43%, to 15,234.74. The S&P 500 index lost 6.85 points, or 0.40%, to 1,703.29. The Nasdaq Composite declined 6.26 points, or 0.16%, to 3,809.01.

Top Senate leaders said they were within striking distance of an agreement Monday to reopen the federal government and defuse a looming debt crisis just days before the U.S. could run out of money to pay its bills.

Citigroup Inc (NYSE:C) reported a marginal fall in adjusted quarterly profit from ongoing businesses after the Federal Reserve’s decision to continue its bond-buying program for longer than expected slowed trading by clients. Third-quarter net income, adjusted for certain items, slipped to $3.26 billion, or $1.02 per share, from $3.27 billion, or $1.06 per share a year earlier, the third-largest U.S. bank said on Tuesday.

BlackBerry Ltd. on Tuesday sought to reassure customers by telling them in full-page ads across 30 news outlets in nine countries that they could depend on the company and its products, media reports said.