Citigroup, a Dow component, fell more than 13 percent to an intraday low of $0.98, hammered by continued fears over the bank's health and ability to avert nationalization.Bad choices hurt. Can't say that I'm surprised by this.
If I thought there was any chance of them preventing nationalization, and/or then pulling themselves out of the toilet by themself, I might say that now is a good time to invest. But I know better.
The investors know that an ill wind blows (mostly out of Washington D.C.) and they're doing the smart thing... running away as fast as they can.
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