The markets opened lower after Citigroup warned of additional losses and its CEO stepped down. The Dow fell 48 points to 13,546 while Nasdaq lost 6 points to 2803.
On the upside
On the downside
Citigroup (NYSE: C) expected at least $8 billion in write-offs due to the ongoing subprime loan crisis.
In the broad market, declining issues outpaced advancers by a margin
of nearly 4 to 1 on the NYSE and by a margin of more than 2 to 1 on Nasdaq. The
Russell 2000 which tracks small cap stocks fell 8 points to 789.