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Citigroup Inc. (C) Is Falling After Q3 Downward Adjustment

Citigroup Inc. (C) announced after the bell Thursday that it downwardly adjusted its third quarter profit by $600 million due to "rapidly evolving regulatory inquiries and investigations." The stock is now down 1.08 on 1.7 million shares.

Citigroup climbed during the middle portion of Thursday's session and closed higher by 0.51 at $53.15. The stock rose to a 1-month high.

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All eyes were on the U.S. Federal Reserve this week as the bank announced its latest policy decision. Find out the signals given out by Chair Jerome Powell regarding the future path of interest rates. Some key data on the U.S. private sector economy were also released. Other main news included the flash estimates of first quarter GDP from Eurozone. Elsewhere, the Paris-based think tank OECD released its latest round of macroeconomic projections for the global economy.

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