Why Citigroup Is Down Big Todayhttp://www.fool.com/investing/general/2013/05/01/-214.aspx John Grgurich
May 1, 2013
About one hour into the trading day, Citigroup (NYSE: C) is already down 1.76%. The big-four banks have all been taking it on the chin to one degree or another for the past couple of weeks, and it looks like the beatings are set to continue today.
Down markets, down sector
The markets are all in the red today, too, with the Dow Jones Industrial Average down 0.31%, the S&P 500 down 0.30%, and the Nasdaq Composite down 0.38%.
Foolish bottom line
There's also some broad economic news that's undoubtedly affecting not just bank stocks but the rest of the market, as well. Payroll processing giant ADP is reporting worse than expected private-sector jobs growth for April, with a net 119,000 hired for th