U.S. Stocks Fall on Banking Outlook, Durable Goods Orders Slump

U.S. stocks fell for the first time in four days on a worsening outlook for bank profits, an unexpected drop in durable goods orders and concern that financing for buyouts will collapse.

Citigroup Inc. tumbled the most in the Dow Jones Industrial Average and led financials to their biggest retreat in almost two weeks after Oppenheimer & Co.'s Meredith Whitney said the largest U.S. bank's quarterly loss will be four times bigger than previously forecast. General Electric Co. and United Technologies Corp. declined on the worst-ever slump in machinery demand. Clear Channel Communications Inc. posted its steepest drop in 19 years on concern banks will pull loans for the broadcaster's $19.5 billion takeover.

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