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NEW YORK (TheStreet) — The financial sector had a down day on Tuesday, with losses for most of the major U.S. financial institutions.

Citigroup(C) shares continued to be under pressure on Tuesday, with a 2.1% loss, or a loss of 9 cents, to $4.09. The U.S. government announced Monday that it would begin this year an orderly sale of its stake of 7.7 million shares in Citi.

On Monday, Citi shares dropped by twice as much as Tuesday’s loss, or 20 cents to a closing price of $4.18. Trading in Citi shares was elevated again on Tuesday, with 619 million shares traded. On Monday, more than 886 million Citi shares were traded. The average daily volume for Citi is 524 million shares traded.

Bank of America was also among the financial losers on Tuesday, with a loss of close to 1.6%, or 28 cents, to $17.76.

Even after a losing day on Tuesday, Citi and Bank of America shares remain higher as March ends than the share prices at which the big banks trading to begin the month. Bank of America and Citigroup were more or less going out like lambs after a month of steadily increasing share prices.

Who Owns Citigroup?

George Soros

Bruce Berkowitz

Prince Al-Waleed

Barclays’ 1.8% decline on Tuesday was the second-worst behind Citi’s drop. Barclays was another March lamb, having begun the month trading at $18.60 and, even after Tuesday’s decline, seeing shares at $21.69.

The U.S. financial sector as a whole was down slightly on Tuesday, reflecting the overall market enervation. The S&P 500 ended marginally negative and the Dow Jones Industrial Average was up barely by day-end on Tuesday while the financial sector was down by 0.3%.

Goldman Sachs(GS) was down by 1.5% on Tuesday, with shares suffering as part of the general selloff in financials.

 

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