Updated from 3:12 p.m. EDT
Financial stocks finished lower Friday after several insurers were granted access to funds from the Troubled Asset Relief Program and Fitch Ratings warned of downgrades for nine U.S. banks.
Hartford Financial (HIG Quote), Lincoln National (LNC Quote), Allstate (ALL Quote), Prudential Financial (PRU Quote), Principal Financial (PFG Quote) and Ameriprise Financial (AMP Quote) have been granted access to $22 billion from the TARP as the government hopes to prevent the industry from stumbling further.
Hartford said late Thursday that it has preliminary approval to receive $3.4 billion, and Lincoln said it has been granted approval for $2.5 billion. Ameriprise said Friday that it will not accept government aid, while Allstate said it would review the government's proposal. ...
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