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With new signs emerging about the sluggishness spreading through the economy and traders steering clear of equities ahead of the House of Representatives' upcoming vote on the bailout proposal, financial stocks sold off Thursday.
The KBW Bank Index lost 3.2%, and the NYSE Financial Sector index fell 4.5%. The Amex Securities Broker/Dealer index was worse by 5.2%.
Insurers were particularly hard hit after Senate Majority Leader Harry Reid (D-Nev.), said a well-known insurance company could be near bankruptcy. His comments were later retracted. ...
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