Citigroup Stock Falls After Billions in Charges
Citigroup stock fell Thursday after it disclosed charges affecting its fourth quarter results.
The stock was down 2.4% to $51.8 in mid-day trading. The last time it fell that much was Oct. 27, when it was down 2.8%.
The drop comes after Citigroup said it was adding $1.3 billion in reserves to protect against the increase in risk associated with its exposures to Argentina and Russia.
The bank also is incurring about $1.7 billion in charges related to a previously disclosed special assessment by the Federal Deposit Insurance Corp.
Citigroup publishes its fourth-quarter earnings on Friday.
