MW: U.S. stocks start steeply lower; Citigroup to layoff 50,000
By Kate Gibson
NEW YORK (MarketWatch) - U.S. stocks declined at Monday's start as Citigroup Inc. prepared to slash 50,000 jobs and after Japan slipped into recession, heightening skepticism after a summit of world leaders produced little new to bolster the global economy. The Dow Jones Industrial Average shed 134.21 points to 8,363.10. The S&P 500 declined 15.39 points to 857.9, while the Nasdaq Composite fell 22.51 points to 1,494.34.
