The Federal Reserve rejected Citigroup Inc.'s (C) capital plan after the close Wednesday. Citigroup had requested permission for a quarterly dividend of $0.05 per share and a stock buyback program of $6.4 billion.
Citigroup gapped open sharply lower Thursday, but traded in a range for the majority of the session. The stock closed down by 2.71 at $47.45 on the highest volume of the year. Citigroup fell to a week and a half low and sank beneath its 50-day moving average.
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Business News
May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.