Financial stocks had a mixed session Wednesday, limiting the gains for the broader market, as worries continued to swirl around investment bank

Lehman Brothers

(LEH)

.

Lehman

fell another 6.9%, closing at $7.25, after saying it would cut its dividend, post a $3.9 billion third-quarter loss and sell a majority stake in its investment-management division.

By the time trading ended, the Amex Securities Broker/Dealer index had surrendered 1.7%, and the KBW Bank index had given back 1.4%. The NYSE Financial Sector index finished in the green, tacking on 0.5%.

Washington Mutual

(WM) - Get Waste Management, Inc. Report

was another weak spot, sinking 29.7% to $2.32, as concerns built about the future of the struggling lender. Volume in

Washington Mutual

was extremely heavy, more than doubling the normal trading activity for the stock.

On the

Dow Jones Industrial Average

,

American International Group

(AIG) - Get American International Group, Inc. Report

dropped 4.7%, and

American Express

(AXP) - Get American Express Company Report

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lost 0.2%.

Bank of America

(BAC) - Get Bank of America Corp Report

fell 0.4%, and

Citigroup

(C) - Get Citigroup Inc. Report

slipped 1.1%.

JPMorgan Chase

(JPM) - Get JPMorgan Chase & Co. (JPM) Report

ticked down 0.2%.

Elsewhere,

Wachovia

(WB) - Get Weibo Corp Sponsored ADR Class A Report

was under pressure, dropping 7% to $15.08, while

BB&T

(BBT) - Get BB&T Corporation Report

retreated by 1.8% to $31.43.

Wells Fargo

(WFC) - Get Wells Fargo & Company Report

was on the winning side, adding 1.7% to $31.70.

This article was written by a staff member of TheStreet.com.