While you were sleeping Citigroup drops

Thu, 27 Mar 2014

By Margreet Dietz March 28 (BusinessDesk) – Wall Street fell along with shares of Citigroup after the bank failed a Federal Reserve stress test of its capital plan, overshadowing an upward revision of US economic growth in the fourth quarter of 2013. Shares of Citigroup fell, down 5.5 percent, after the bank’s capital plan failed the latest Fed stress tests of the nation’s top 25 banks. A source close to the matter told Reuters that Citi officials had not expected the rejection. “Needless to say, we are deeply disappointed by the Fed’s decis...

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