AP
NEW YORK – Wall Street looked poised to get a break from the steep sell-off of the past two days following a report that Citigroup Inc. might put itself up for sale.
Investors are finding some reason for optimism about the financial sector after The Wall Street Journal reported late Thursday that Citigroup Inc. is considering the possibility of selling parts of itself or even the entire company following a plunge in its stock price. The stock lost 26 percent Thursday alone.
Investors have been worried that losses from souring debt will swamp banks, even those given financial support from the government’s $700 billion rescue plan. Citigroup, in particular, is a source of big concern for the markets as the company hasn’t turned a profit in the past four quarters, unlike rivals such as JPMorgan Chase & Co. and Bank of America Corp…
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