UPDATE 1-Citigroup says rumors of trading error untrue

NEW YORK, May 7 (BestGrowthStock) – Citigroup Inc (C.N: ) said there
was no basis for rumors that it was responsible for a massive
trading error that caused the markets to plunge on Thursday.

Citi had been conducting an investigation into the rumors
on Thursday, but said on Friday morning that its investigation
had determined that the rumors were false.

“Based on our review, rumors about a trading error by Citi
are unfounded. It is troubling that inaccurate and unfounded
rumors were spread as far as they were,” Citi spokeswoman
Shannon Bell said in an email.

Stocks

(Reporting by Maria Aspan, editing by Gerald E. McCormick)

UPDATE 1-Citigroup says rumors of trading error untrue