The Dow Jones Below 10,000 - Citi and Toyota Fall (NYSE:C),(NYSE:TM)
The Dow Jones was at 10,300 on Wednesday and today going into the final hours of trading its now at 9,930. Toyota Motor (NYSE:TM) rocked the world this week and since Jan 25th the stock has dropped 15.8%. Citigroup (NYSE:C) the most active stock traded on the NYSE is close to falling back under $3 yet again. Its been one hell of a week.
The Down Jones fell more than 300 points this week, once again another triple digit swing in the negative direction.
This week we got word that Citigroup Inc. intends to sell or split off its $10 billion Citi Private Equity unit. The unit, managed by Todd Benson and Darren Friedman, oversees about $2 billion of Citigroup's money. Benson and Friedman have considered buying the unit for themselves together with new partners or with other financingSince Nov 19th, Citigroup (C) shares have lost 25% and this week they are down 4.8% and trying hard to stay above the $3 level.
Toyota’s (TM) recall problems are getting worse. The latest bad news for the company involves the U.S. opening an investigation into issues surrounding the 2010 Toyota Prius hybrid. This could really become an issue for Toyota because the Prius is the company’s most important brand.
TGIF, Citigroup shares are trading at $3.15 heading into the close and Toyota are at $74 even. Here's more on Toyota's latest struggles:
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