Citigroup sinks on outlook

NEW YORK (Reuters) - Shares of Citigroup Inc (C.N) tumbled more than 15 percent to $4.99 before the bell on Wednesday as investors worried about the embattled bank's outlook.

Fears of more credit losses in the banking sector also dragged the Financial Select Sector SPDR (XLF.P) , an exchange-traded fund which tracks the performance of stocks in the Standard & Poor's 500 financials group.

The ETF declined 3.8 percent to $10.68 before the bell.

(Reporting by Ellis Mnyandu; Editing by Theodore d'Afflisio)