Citigroup's stock plummeted 5.08% in intraday trading on Tuesday, amid growing concerns over the bank's ability to address systemic operational failures that have plagued the institution for years.

The latest blow came from the revelation of two high-profile incidents where Citigroup employees nearly transferred massive sums of money by mistake. In April 2024, a routine transfer spiraled into an $81 trillion error when an employee failed to delete pre-filled zeros, a mistake that was caught within 90 minutes. Shockingly, in the same month, another employee almost credited a wealth management client's account with $6 billion due to a copy-paste error, over 1000 times the intended amount.

These near misses, along with the notorious $900 million erroneous payment to Revlon creditors in 2020, have raised serious doubts about Citigroup's operational resilience and internal controls. Regulators have fined the bank and criticized its slow progress in addressing these systemic weaknesses, despite CEO Jane Fraser's efforts to prioritize modernization and automation.