Here's Why Citigroup Stock Is Falling on Monday
The stock market started out deep in the red Monday, but rebounded significantly throughout the first couple of hours of trading. By noon ET, the S&P 500 had recovered to the point where it was down by just 0.5% for the day.
However, mega-bank Citigroup (NYSE: C) was a major underperformer, with shares still down by 4% after being off by as much as 5% earlier in the session.
Citigroup reported on Monday that it had $5.4 billion in exposure to Russian assets as of the end of December, and warned that it could potentially take a hit as nations around the world impose financial sanctions on that country and its banks in response to the invasion of Ukraine. Including indirect exposures, Citigroup has nearly $10 billion in total Russian exposure.
Source Fool.com
