Here’s Why Affiliated Managers Group, Western Alliance Bancorp, AFLAC, and Markel are Dropping Today

The massive coronavirus-fueled downturn in the stock market continued on Thursday, with the Dow Jones Industrial Average and benchmark S&P 500 index down by 9% and 8%, respectively, by 2:45 p.m. EDT.

Financial sector stocks were hit worse than most. To name a few, wealth manager Affiliated Managers Group (NYSE: AMG) is down by 15%, regional bank Western Alliance Bancorp (NYSE: WAL) has dropped by 12%, insurance giant Aflac (NYSE: AFL) is off by 13%, and specialty insurer Markel (NYSE: MKL) is more than 12% lower on the day.

Image source: Getty Images.

Continue reading

Source Fool.com