Thursday, October 14, 2004

Insurers' Stocks Plunge on Spitzer Probe

Marsh & McLennan (MMC) shares plunged more than 20 percent Thursday after the giant insurance broker and several major insurers were charged by New York Attorney General Eliot Spitzer with market manipulation. Insurance giant AIG (AIG) dropped 10.4% to $60.

Others insurance brokers and insurance companies that weren't named in the lawsuit also fell. Aon (AOC) dropped 16.2% to $23.18.

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