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Why Did Wells Fargo and Citigroup Shares Fall?

Peter Barnes
Updated
Why Did Wells Fargo and Citigroup Shares Fall?

US stocks rallied last week even though Japan and other emerging markets are reeling under tremendous pressure. The small-cap Russell 2000 Index and the tech-heavy NASDAQ Composite scored record highs, while the S&P 500 touched a five-month high. The S&P 500 rose 1.50% and closed the week at 2,801.31. The Dow Jones Industrial Average rose 2.30% to 25,019.41, while the NASDAQ Composite rose 1.79% to 7,825.98. The US ten-year Treasury yield remained flat at ~2.83% for a second week in a row. Financials lagging broader markets

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