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Updated from 1:53 p.m. EDT
Financial stocks fell Tuesday in lockstep with the major indices, caught in the broader market's undertow and pressured by sector-specific analyst downgrades, among other things.
Franklin Resources (BEN Quote), an asset manager based in San Mateo, Calif., sank 2.6% to $133.66 after an analyst with J.P. Morgan said its funds have been turning in poor performances lately. He cut the stock to underweight from neutral.
Keefe Bruyette, meanwhile, lowered Synovus Financial (SNV Quote) to market perform from outperform, after which the Georgia bank's shares slumped 1.5%, or 48 cents, to $32.58. ...
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