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Citigroup shares fall below $2 as U.S. banks plummet

    CITIGROUP
    75,98+0,94%
    NEW YORK (Reuters) - Shares of Citigroup dropped more than 20 percent to fall below $2 as bank shares plummeted shortly after the opening bell on Friday on fears the U.S. bank rescue plan might include nationalization.

    Bank of America fell more than 15 percent to $3.31 and Wells Fargo tumbled more than 12 percent while JP Morgan shed 5.8 percent. The Financial Select Sector SPDR fell 4.5 percent to $7.22.

    (Editing by James Dalgleish)

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