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Shares of Citigroup Inc., once the nation’s most powerful bank, fell below $1 a share Thursday. The stock fell to 98 cents in late morning trading, down 15 cents or 14.2 percent from Wednesday. New York-based Citi has lost more than 85 percent of its value so far this year, and is down more than 95 percent from a year ago as the bank was pummeled by the financial market crisis.
Citigroup’s shares will remain on the New York Stock Exchange. Last week, the NYSE relaxed its listing rules to allow stocks that fall under $1 to still be listed and traded on the exchange. The exchange said the change was warranted given the “current period of unusual market volatility and decline.”
More from Ken Silverstein:
Perspective — October 23, 2013, 8:00 am
How pro-oil Louisiana politicians have shaped American environmental policy
Postcard — October 16, 2013, 8:00 am
A trip to one of the properties at issue in Louisiana’s oil-pollution lawsuits
Abortions per 1,000 live births in New York City:
Researchers discovered an “Obama effect”: African Americans’ performance on a verbal test improved, to equal that of white Americans, immediately after Obama’s nomination and his election.
“All I saw,” said a 12-year-old neighbor of visits to the man’s house, “was just cats in little diapers.”
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“I hope that after reading the following pages the leaders of the Y. M. C. A. will start a campaign to induce good young men to do nothing. If so, I shall not have lived in vain.”