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♦ With shares down 26 percent yesterday, Citigroup is now weighing all of its options, including possible selling the firm. The board meets today to discuss the " range of scenarios that were unthinkable only weeks ago." [WSJ]
♦ The market bounced back in early trading after historic sell-offs in recent days. [MW]
♦ Hedge funds contracted by 9 percent in October, the lowest level in two years. [Bloomberg]
♦ A bailout of the auto industry won't be taking place just yet. Talks between Detroit and Washington collapsed with lawmakers saying the industry lacked credible plans to return to profitability. [WSJ]
♦ The city's securities industry shed about 16,000 employees in October. [DB]