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BAML and Citi give weak outlooks for trading revenue

Banks’ shares drop after chief executives warn figures will come in down year-on-year in the fourth quarter

Bank of America and Citigroup both disappointed investors, giving weak outlooks for trading revenue.

Bank of America's chief executive, Brian Moynihan, said at an industry conference on Tuesday that fourth-quarter trading revenue would be lower than both year-ago levels and the third quarter's.

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