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Updated from 11:17 a.m. EDT
Financial stocks were sliding Thursday, as investors took profits after the prior day's rally.
The NYSE Financial Sector Index was recently sliding 3.3% to 2,838, as the sector was gave up gains earned after the Federal Reserve said on Wednesday it may pour more than $1 trillion in liquidity into the market.
Banking giant Citigroup (C Quote) filed a registration statement to authorize the board to execute a reverse stock split. As part of the government bailout, Citigroup will make also good on its plan to exchange common stock for preferred. Citi shares were losing 11% to $2.74. ...
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