U.S. stock indexes recorded their biggest losses this month amid concern that Iraq will fail to comply with a United Nations order to destroy missiles and make a U.S.-led attack more likely.
The Dow Jones industrial average lost 159.87, or 2 percent, to 7858.24, and the Nasdaq composite index shed 26.64, or 2 percent, to 1322.38.
The Standard & Poor's 500-stock index fell 15.59, or 1.8 percent, to 832.58.
Wal-Mart, the world's biggest retailer, slid $1.26, to $47.64. The company said sales at stores open at least a year will rise at the low end of its estimate of 2 to 4 percent. Last week's snowstorm forced the company to shut stores in at least eight states.
Federated Department Stores, operator of Bloomingdale's and Macy's, dropped 76 cents, to $24.82. The company, citing last week's storm, said February sales will fall 7.5 to 8.5 percent.
Citigroup, the world's largest financial services company, dropped 77 cents, to $32.43. While the company is in talks with the Securities and Exchange Commission about settling the Enron claims, a deal may still fall though, the Financial Times said, citing unidentified people close to the matter.
Spokeswomen for Citigroup didn't immediately return messages left on their cellular phones by Bloomberg News.
Lowe's gained $2.08, to $38.10. The second-largest home-improvement chain projected fiscal 2004 earnings of $2.16 to $2.20 a share, topping analysts' expectations of $2.11, according to the average forecast in a survey by Thomson First Call. The company said sales at stores open at least a year rose 4.1 percent last quarter, compared with its earlier estimate of 2 to 4 percent growth.
Home Depot, the biggest home-improvement retailer, declined 23 cents, to $22.18. Lowe's opened more stores in large cities that Home Depot has dominated such as Boston, threatening to capture market share.
ChevronTexaco, the second-largest U.S. oil company, rose 36 cents, to $64.41. Anadarko, which produces oil and natural gas on five continents, added $1.08, to $46.76. Burlington Resources, the world's fifth-biggest producer of natural gas jumped $1.07, to $47.07.
* The New York Stock Exchange composite index fell 80.95, to 4706.22; the American Stock Exchange index rose 3.65, to 829.24; and the Russell 2000 index of smaller-company stocks fell 6.14, to 358.22.
* Declining issues outnumbered advancing ones by 2 to 1 on the NYSE and the Nasdaq Stock Market. NYSE trading volume fell to 1.21 billion shares, from 1.37 billion on Friday, and Nasdaq volume totaled 1.21 billion, down from 1.3 billion.
* The price of the Treasury's 10-year note rose $3.44 per $1,000 invested, and its yield fell to 3.85 percent, from 3.89 on Friday.
* The dollar fell against the Japanese yen and the euro. In late New York trading, a dollar bought 117.92 yen, down from 118.80 late Friday, and a euro bought $1.0791, up from $1.0762.
* Light, sweet crude oil for April delivery settled at $36.48, up 90 cents, on the New York Mercantile Exchange.
* Gold for current delivery rose to $356.30 a troy ounce, from $351.80 on Friday, on the New York Mercantile Exchange's Commodity Exchange.