US Insurance Stocks Plunge on Concern About Spitzer
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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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Wall Street stocks tumbled on Tuesday after an index of service sector activity slumped to its lowest level since the aftermath of the September 11 attacks, accentuating fears for the health of the US economy.
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World stocks fell sharply on Monday, battered by fears of U.S. recession and investor disappointment about a fiscal rescue plan promoted by the U.S. administration.
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U.S. stocks dropped on Monday, led by financial shares, as a rush by savers to withdraw deposits at a large British mortgage lender fueled concerns that turmoil in the credit markets would spread.
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Stock prices were pummeled by a toxic combination of still-rising oil prices and anxiety surrounding Eliot Spitzer&#39;s probe of the insurance industry.
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US stocks suffered a late afternoon plunge on Tuesday as downbeat news from AT&T and more trouble in the housing market raised fresh fears over the health of the US economy.
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Stocks fell sharply on Friday, with all three major averages down over 1 percent, as a pair of troubled Bear Stearns hedge funds stoked concerns that other investment banks may face large losses from subprime mortgages.
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An investigation into U.S. insurers and brokers rattled insurance industry stocks for a second day on Friday as investors, shaken further by subpoenas delivered to the top U.S. life insurer, struggled to gauge how deep the probe might reach.
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NEW YORK Stocks were mixed in a volatile session yesterday, with blue chips weighed down by oil prices and a new investigation of the insurance industry.
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Shares in AIG, the world's largest insurer, fall by 11% on concerns about its exposure to sub-prime losses.
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The FTSE 100 has fallen for the fifth session in a row, with insurers crowding the list of fallers after sentiment in the sector was damaged by news that New York Attorney General Eliot Spitzer was suing a US firm.
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US BLUE-chips retreated yesterday as health insurersâ shares fell on worry that an inquiry by New York Attorney General Eliot Spitzer is widening and will hit the entire industry.
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US shares fall in Wednesday morning trading amid fears of higher interest rates to combat inflation.
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An investigation into U.S. insurers  and brokers rattled insurance industry stocks for a second day  on Friday as investors, shaken further by subpoenas delivered  to the top U.S. life insurer, struggled to gauge how deep the  probe might reach.
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U.S. stocks slid on Thursday after New  York Attorney General Eliot Spitzer accused insurance broker  Marsh & McLennan Cos. MMC.N of fraud, and the fallout hit  insurers, including American International Group AIG.N.
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Stocks fell on Wednesday after Standard & Poor's downgraded its rating outlook on several bond insurers, suggesting further potential turmoil in the financial sector.
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U.S. stocks tumbled on Monday, with major indexes falling by their biggest margin in months, amid concern about Google Inc.'s  valuation and doubts about holiday spending after a disappointing sales estimate from Wal-Mart Stores Inc. .