** Shares of billionaire Howard Lutnick's brokerage firm BGC Group slide as much as 10.5; last down 6.6% at $9.93
** President-elect Donald Trump expected to pick Lutnick to serve as commerce secretary, a Punchbowl reporter said in a post on X, on Tuesday, without citing any sources
** Lutnick had emerged as a serious contender, alongside investor Scott Bessent, for the top Treasury job in the new Trump administration, Reuters has reported
** As of last close, BGC shares up 47.4% YTD
(Reporting by Arasu Kannagi Basil in Bengaluru)
((ArasuKannagi.Basil@thomsonreuters.com;))
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