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

Lehman Brothers




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 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 Report

dropped 4.7%, and

American Express

(AXP) - Get Report

lost 0.2%.

Bank of America

(BAC) - Get Report

fell 0.4%, and


(C) - Get Report

slipped 1.1%.

JPMorgan Chase

(JPM) - Get Report

ticked down 0.2%.



(WB) - Get Report

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


(BBT) - Get Report

retreated by 1.8% to $31.43.

Wells Fargo

(WFC) - Get Report

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

This article was written by a staff member of