Insurance Probe Woes Deflate Stock Rally
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US stocks were flat on Tuesday after a strong opening as declines in health insurers offset better-than-expected earnings from tech bellwethers IBM Corp.
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US stocks were volatile on Friday as traders weighed up the first fall in US employment in 4&frac12; years against a possible rescue plan for troubled bond insurers.
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Not all insurance stocks are being punished for the Marsh &amp; McLennan price-fixing scandal, but the investigation is just getting rolling.
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Stocks fell sharply and goverment bonds rallied on Tuesday as further bad news from the beleaguered US mortgage sector fuelled concerns over growth prospects for the broader economy.
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A heavy loss by the bond insurer MBIA and the prospect of new downgrades in the bond insurance industry sent Wall Street sharply lower in early trading.
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Stocks fell on Wednesday, reversing strong gains after the Federal Reserve slashed interest rates, roiled by fresh worries about more losses in the financial sector on fears big bond insurers will lose their top credit rating.
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Wall Street&#39;s holiday rally stumbled yesterday, with stocks finishing mixed as investors worried over the strength of the pharmaceutical sector.
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Congress is examining the scandal rippling through the insurance industry, with its largest brokerage accused of bid rigging and price fixing amid high-level resignations, employee layoffs and guilty pleas by some executives.
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US investigations into the sale of insurance that can smooth out volatile earnings have widened significantly. Ace, a big Bermuda insurer with extensive operations in the United States, said late Monday that
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TORONTO (CP) - A rally in the insurance sector helped take stock markets up sharply - and drove New York&#39;s blue chip index to a triple-digit runup - despite higher oil prices and a further slowdown in US consumer confidence.
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U.S. stocks fell on Tuesday as New  York Attorney General Eliot Spitzer's probe of the insurance  industry widened to the health sector, hammering shares of  health insurers.
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U.S. stocks fell on Tuesday as New York Attorney General Eliot Spitzer's probe of the insurance industry widened to the health sector, hammering shares of health insurers.
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Oil-supply concerns and broker downgrades of blue-chip companies left stocks mixed yesterday, raising doubts that Wall Street&#39;s year-end rally would continue.
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The plunge in US insurance stocks widened to include companies such as Aetna Inc. and Humana Inc. on concern New York Attorney General Eliot Spitzer&#39;s probe of the industry will drag down profits.
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The scandal at Marsh & McLennan Cos.  MMC.N may have floored Wall Street, but some executives who  had defected to a rival insurance broker said the legal storm  was long overdue.
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U.S. stock futures trimmed early  losses, pointing to a slightly lower market open on Thursday,  as oil prices rose and the insurance sector was in the  spotlight after American International Group AIG.N  said it  was being investigated by a federal grand jury.
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Wall Street&#39;s holiday rally stumbled Monday, with stocks finishing mixed as investors worried over the strength of the pharmaceutical sector.