Citigroup shares sold off during the regular session following the company's third-quarter earnings report, which was released on the morning of October 13. Although the bank beat consensus estimates with revenue of $23.85 billion and earnings of $2.85 per share, investors reacted negatively to higher credit loss provisions and weaker capital ratios that offset the growth in net interest income. The stock's decline was more pronounced than that of its peers, such as JPMorgan and Bank of America, as market participants weighed the bank's results against broader concerns regarding rising Treasury yields and the potential for a flattening yield curve.