U.S. stocks fell to the lowest in two weeks after Citigroup Inc. said it will report as much as $11 billion in additional writedowns, heightening concern that financial companies face more losses tied to subprime home loans.

Citigroup, the largest U.S. bank by assets, tumbled for the fifth straight day after it said the charges will cut profit by as much as $7 billion. Morgan Stanley, Merrill Lynch & Co. and Goldman Sachs Group Inc. also dropped on speculation securities firms will post more writedowns on top of the $40 billion announced in the past four months. Home Depot Inc. and Lowe’s Cos. led a gauge of retailers to the lowest in a year after Deutsche Bank Securities said the housing slump will hurt profits through 2008.

The Standard & Poor’s 500 Index slid 7.48, or 0.5 percent, to 1,502.17, its lowest since Oct. 19. The Dow Jones Industrial Average lost 51.7, or 0.4 percent, to 13,543.4. The Nasdaq Composite Index decreased 15.2, or 0.5 percent, to 2,795.18. About three stocks dropped for every one that rose. Financial firms also led benchmark indexes lower in Europe and Asia. [MORE]