Shares Of The Hartford Plunge 32%

Waning Confidence Also Affects MetLife, Prudential It was a blood bath Thursday for shares of The Hartford, while MetLife Inc. and Prudential also plummeted on fears that the tumult in financial markets could push some insurers over the edge. Some of the investor panic Thursday followed a comment Wednesday from Sen. Harry Reid, D-Nev., that a well-known but unnamed insurer was on the brink of bankruptcy. A spokesman for Reid, the Senate majority leader, issued a statement Thursday backtracking on the comment, and The Hartford, Prudential and MetLife said they're not near bankruptcy. But shares of The Hartford Financial Services Group plunged 32 percent Thursday anyway, closing down $12.20 at $25.91. The company has lost 54 percent of its value this week so far. MetLife Inc., which has major operations in Bloomfield, fell... [read full story]