Stocks pare losses on Citigroup deal for Wachovia

By TIM PARADIS, AP Business Writer

NEW YORK – Stock futures are paring some of their losses on word that Citigroup Inc. will acquire Wachovia Corp.’s banking operations.

Investors have been worried about the company’s stability as it grappled with mounting losses over souring mortgage debt.

Wall Street is also nervous Monday ahead of planned House vote on an unpopular $700 billion plan to rescue troubled financial companies.

Dow Jones industrial average futures are down 153 at the 10,994 level after being down more than 165.

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