Citi is dropping after warning the Senate GOP tax bill could cost it $20 billion (C)

Markets Insider

• Citigroup fell 1.4% Wednesday after CFO John Gerspach warned at an investor conference that the GOP’s Senate tax bill could cost the bank $20 billion.
• The hit would stem from Citi writing down deferred tax assets, a charge analysts had previously estimated at only $12 billion, according to a Bloomberg report.
• Shares opened the day at $76.30 and fell to $75.44 at the closing bell.