Financial Winners & Losers: Hartford
were plummeting along with the overall market Monday as traders fled equities to seek safe havens in gold and Treasury bonds.
Recently, the NYSE Financial Sector index was losing 7.6%, and the Amex Securities Broker/Dealer index was off 6.9%. The KBW Bank index was dropping 9.3%.
Throughout the group, the selling was furious, as it was for the broad market. At one point, the
Dow Jones Industrial Average
had a loss of nearly 800 points.
Among individual stocks,
(WB) - Get Free Report
, which is being pursued by
Citigroup
(C) - Get Free Report
and
Wells Fargo
(WFC) - Get Free Report
, was down 5.3% at $5.88. Citi fell nearly 7%, and Wells was off almost 5%.
Citi wasn't even the worst financial component of the Dow. That distinction belonged to
Bank of America
(BAC) - Get Free Report
, which tumbled 9.6%.
American Express
(AXP) - Get Free Report
was lower by 8.6%, and
JPMorgan Chase
(JPM) - Get Free Report
was shedding 7.5%.
(HIG) - Get Free Report
was one of the session's few winners, climbing nearly 12% after saying it has agreed to a $2.5 billion capital investment from
Allianz
(AZ)
. Hartford also said it plans to cut its dividend and that it will probably post a loss in the third quarter.
This article was written by a staff member of TheStreet.com.
