US stocks fell on Tuesday after a four-session rally as Citigroup reported weaker-than-expected quarterly earnings, overshadowing developments in the Washington budget and debt-limit talks. Citigroup fell 1.1 percent to $49.06 after the third-largest US bank reported earnings. The bank was hit by a double-digit drop in bond trading revenue after the Federal Reserve left its stimulus policies in tact in September and customer activity fell.
The S&P financial sector index was among the biggest decliners, down 1.3 percent. The Dow Jones industrial average was down 24.82 points, or 0.16 percent, at 15,276.44. The Standard & Poor's 500 Index was down 1.90 points, or 0.11 percent, at 1,708.24. The Nasdaq Composite Index was up 3.42 points, or 0.09 percent, at 3,818.69. Johnson & Johnson reported stronger-than-expected quarterly results on strong growth for its prescription drugs. The stock was up 1.4 percent at $91.08. Coca-Cola Co reported higher earnings and lower revenue, helped by strong global sales of its Coca-Cola brand products. But the stock was off 0.5 percent at $37.71.
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