Citigroup stock holds up on deal chatter and rate bets as Wall Street slides
Citigroup shares rose 0.4% to $116.67 in afternoon trading, bucking a broader market drop. The move followed reports Glencore is close to naming Citi as lead bank for possible merger talks with Rio Tinto. The S&P 500 ETF fell 1.4%, while Nasdaq-tracking QQQ slid 2.3%. Investors watched Treasury yield curve bets amid uncertainty over the next Federal Reserve chair.