NEW YORK, Nov. 3, 2009 (Kyodo News International) -- New York stocks fell moderately Tuesday morning as investors were discouraged by dismal earnings by a Swiss bank.

The Dow Jones Industrial Average, which rose 76.71 points Monday, shed 28.64 points to stand at 9,760.80 at 11:15 a.m.

The tech-heavy Nasdaq Composite Index, which inched up 4.09 points the previous day, declined 7.88 points to 2,041.32.

UBS AG reported a third-quarter net loss of 564 million Swiss francs in a turnaround from a net profit of 283 million francs during the same period last year.

Selling stemming from the dismal business results of the Swiss bank more than offset buying backed by billionaire investor Warren Buffett's plan to buy major railway operator Burlington Northern Santa Fe (NYSE:BNI) , market analysts said.