Citigroup, Inc (NYSE: C) has become the second stock to be halted by the New York Stock Exchange’s new circuit brokers. The first stock was halted was the Washington Post Corporation on June 16th.
The offending trade this time appears that 8,820 shares of Citigroup, Inc (NYSE: C) went through at $3.3174 at 1:03 PM ET on Tuesday. The drop as a 12.7% decline from the previous trade, where Citigroup, Inc (NYSE: C) shares priced at $3.80. The $3.3174 price represented a 17% drop from Monday’s closing price.
The new circuit breakers which were adopted after the May 6th “flash crash” require a five minute halt in trading if any stocks of the S&P 500 move more than 10% from a trading price in the previous five minutes. Shares quickly returned to $3.79 on Tuesday, down about 5% for the day.
On Wednesday, Citigroup, Inc (NYSE: C)’s shares closed up 0.80% at $3.76.
