The stock market fell sharply in early trading Tuesday as troubling forecasts for Citigroup Inc. and Intel Corp. raised the anxiety level on Wall Street. The Dow Jones industrial average fell more than 100 points.

Merrill Lynch has reportedly reduced its full-year earnings forecast for Citigroup because it believes the bank could write down another $18 billion of debt tied to souring mortgages, according to Dow Jones Newswires. Intel, meanwhile, lowered its first-quarter earnings forecast, a move that heightened worries about the technology sector. Read more