Stocks open lower after Citi deal, GDP reading

Financial Crisis Posted on

Wall Street is down sharply lower as investors second-guess Citigroup Inc.'s plans to turn over a big piece of itself to the government.

Citi shares are down more than 30 percent as investors worry about their holdings in the company being diluted by the move.

Word that the economy, as measured by the gross domestic product, fell at a 6.2 percent annual pace in fourth quarter is adding to investors' worries.

The Standard & Poor's 500 index has breached its Nov. 21 trading low of 741.02, which many investors had hoped would mark the bottom of the market's fall from October 2007.

The Dow Jones industrial average is down 117 at 7,065, while the S&P 500 index is down 16 at 737. The Nasdaq composite index is down 16 at 1,375.

Legal News Media

Legal News is the top headline legal news provider for lawyers and legalprofessionals. Read law articles and breaking news from law firm's across the United States to get the latest updates. We reserve the right, at our discretion, to change, modify, add, or remove portions of the site at any time. Your This site is solely for your personal use. You are, of course, welcome to print or otherwise copy material from this site for your personal use. However, you may not distribute, exchange, modify, sell or transmit anything you copy from this Site, including but not limited to any text, images, audio and video, for any business, commercial or public purpose. Any unauthorized use of the text, images, audio and video may violate copyright laws, trademark laws, the laws of privacy and publicity and civil and criminal statutes.


American Bar Association – Start and Run a Law Firm – Starting a Law Firm

Lawyer Website Designs