Though calmed somewhat by a final-hour rally, panicked investors continued to maul Citigroup Inc.’s stock Friday as the company’s board met in New York to weigh the possibility of selling part or all of the financial behemoth after a week of mounting discontent among shareholders.

Citi’s shares tumbled more than 30% in intraday trading and closed down 20%, at a 15-year low of $3.77. The shares had traded as low as $3.05 at one point.

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