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 NEW YORK (AP) - Citigroup Inc., the nation's largest financial institution, reported second-quarter profits on Monday that were a nickel per share below Wall Street's expectations. Chief Executive Officer Charles Prince cited "challenging conditions" in the April-June period, including a tough bond market and an interest-rate squeeze.
Investor concerns that similar problems were likely to plague other large banks reporting this week sent bank shares tumbling on Wall Street.
The nation's third largest bank, JPMorgan Chase & Co., which reports its earnings Wednesday, earlier warned that its trading profits were weak in the second quarter and would affect its profits.
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