Citigroup stock falls 4.3% to 9-year low

Investors fear bank lacks enough capital

Pandit now confronts growing doubt about his leadership and management team at a time of uncertainty in the financial markets and the economy.

"There are a lot of balls in the air for Vikram Pandit," said David Hendler, a financial services analyst at CreditSights in New York. "Pretty soon, that 100-day honeymoon is going to be over. In the meantime, they may have to act."

Citigroup's capital levels came under scrutiny in October when Meredith A. Whitney, now a banking analyst at Oppenheimer, issued a scathing report saying the company's weakening finances would force it to cut its dividend, sell assets and issue new stock. At the time, Citigroup executives brushed off those ideas. By the end of 2007, they were heeding Whitney's advice.

Citigroup says it has more than enough capital to meet regulatory guidelines and its own internal benchmarks. The bank is in the process of raising several billion dollars by selling assets from several smaller, fringe businesses and has pulled back from some domestic and international markets. It will also free several billion dollars as the number of loans on its books shrink.