Is Citigroup (C) set to resume the precipitious slide that forced it to double dib into TARP? After this morning’s report that the bank would report an eye-popping $10 billion loss, shares are off over 8% — at one point they touched $6.00.
Bucking the overall down day: Morgan Stanley (MS), which may announce this week that it’s buying Smith Barney from Citi. Shares are up over 5% on the news, suggesting the market likes its move to broaden this business and take advantage of Citi’s hour of need.
Citigroup Could Lose $10 Billion