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Market Rallies on Citigroup Stock Deal

By Jim Zarroli,
Robert Siegel
Published November 27, 2007 at 4:00 PM EST

The stock market rallied Tuesday on a sharp fall in oil prices and news that Citigroup is about to get a major cash infusion.

The Abu Dhabi Investment Authority bought $7.5 billion of Citigroup stock, giving it a 4.9 percent stake in the U.S. financial services giant.

Copyright 2022 NPR. To see more, visit https://www.npr.org.

Business
Jim Zarroli
Jim Zarroli is an NPR correspondent based in New York. He covers economics and business news.
Robert Siegel
Prior to his retirement, Robert Siegel was the senior host of NPR's award-winning evening newsmagazine All Things Considered. With 40 years of experience working in radio news, Siegel hosted the country's most-listened-to, afternoon-drive-time news radio program and reported on stories and happenings all over the globe, and reported from a variety of locations across Europe, the Middle East, North Africa, and Asia. He signed off in his final broadcast of All Things Considered on January 5, 2018.