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)
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