Barclays hit by $590 million US market blunder and stake sale
CNN
Shares in Barclays fell as much as 6% in early trading on Tuesday, after one of its top investors offloaded stock roughly equivalent to a 3% stake in the lender.
The sale comes as Barclays grapples with a fresh compliance and risk misstep, after it disclosed an estimated £450 million ($589 million) loss on Monday due to overselling structured products in the United States.
Shares in Barclays had closed down 4% Monday after the bank said it oversold billions of pounds worth of the securities over a period of about a year, overshooting a $20.8 billion limit agreed with United States regulators by $15.2 billion.
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