(Updated for closing stock prices.)
NEW YORK (
shares were among the losers in the financial sector Tuesday, giving up as much as 6.5%, as word emerged that new challenges face the insurer's planned sale of a Taiwanese unit for more than $2 billion.
Financial shares ended mostly in the red Tuesday,
following the broader markets lower as a worse-than-expected consumer-confidence report
sparked recovery doubts yet again.
grew 27% to 702 as of Dec. 31, from 552 as of the end of September -- despite the fact that the U.S. banking industry essentially broke even in the fourth quarter, ending a string of huge losses, according to FDIC data.
As for AIG on Tuesday, there were more details about the contentious
, this time via a report published by New York State's comptroller's office. And there were details about the collateralized debt obligations insured by AIG for elite Wall Street banks, including
. The new information was released by the office of Rep. Darrell Issa (R., Calif.) and reported by
But those were backward-looking items. Looking ahead, Taiwanese regulators threw another wrench into AIG's proposed deal to sell its Nan Shan insurance unit to Hong Kong firm
reported on Tuesday.
Shares of American International Group finished Tuesday down 5.9% to $26.76.
Amid the weakness in U.S. equities Tuesday,
shares closed down 3.2% to $3.35;
lost 2.6% to $27.29; and
retreated 2.4% to $39.88.
Bank of America
shares fell 1.7% to $15.94.
The bank, whose shares had been
of late, received
on Tuesday to go ahead with its plan to pay back the bailout money it owes the federal government, despite the enormous dilution to BofA stockholders that the payback scheme, initially announced in December, will create.
Goldman Sachs shares, meanwhile, closed essentially flat on the day, losing a penny to $156.70, while
stock was losing 2% to $27.15.
A spate of M&A activity
-- not to mention BofA, Citi and JPMorgan.
-- Written by Scott Eden in New York
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Scott Eden has covered business -- both large and small -- for more than a decade. Prior to joining TheStreet.com, he worked as a features reporter for Dealmaker and Trader Monthly magazines. Before that, he wrote for the Chicago Reader, that city's weekly paper. Early in his career, he was a staff reporter at the Dow Jones News Service. His reporting has appeared in The Wall Street Journal, Men's Journal, the St. Petersburg (Fla.) Times, and the Believer magazine, among other publications. He's also the author of Touchdown Jesus (Simon & Schuster, 2005), a nonfiction book about Notre Dame football fans and the business and politics of big-time college sports. He has degrees from Notre Dame and Washington University in St. Louis.