Citigroup Shares Decline After Bond-Trading Revenue Slides
Citigroup Inc. shares slid Friday after the bank’s traders underperformed their peers at its biggest rival. The firm cited a “challenging” market environment in the second quarter as fixed-income revenue fell 6 percent, a bigger drop than analysts expected, while JPMorgan Chase & Co. posted an increase. Citigroup reported a 19 percent increase in stock trading that also trailed JPMorgan.