Citi losses send stocks tumbling

Jan. 15 - U.S. stocks were slammed Tuesday after a record $10 billion loss at Citigroup and a surprise drop in December retail sales reignited recession talk. The Dow had its biggest point drop of the year with a 277 point fall to 12,501. The S&P 500 lost 35 points to 1,380. The Nasdaq was down 60 points to 2,417. Gold and oil prices moved lower.

Conway Gittens reports from New York.REUTERS VIDEO