Stocks fall on bank earnings, China

NEW YORK (Reuters) - U.S. stocks fell at the open on Wednesday as quarterly results from three large U.S. banks increased uneasiness about the state of financial companies and on reports of bank lending restrictions in China.

The Dow Jones industrial average <.DJI> dropped 92.58 points, or 0.86 percent, to 10,632.85. The Standard & Poor's 500 Index <.SPX> fell 9.43 points, or 0.82 percent, to 1,140.80. The Nasdaq Composite Index <.IXIC> lost 21.61 points, or 0.93 percent, to 2,298.79.

Bank of America Corp posted a wider-than-expected quarterly loss, and Morgan Stanley reported quarterly results that fell short of estimates, while Wells Fargo & Co reported a profit on a pick-up in fee income.

Official media and banking sources said Chinese authorities instructed some major banks to curb their lending over the rest of this month after an early burst of credit.

(Editing by Jeffrey Benkoe)