Sector Snap: Insurers mostly fall with market

Some of the sector's biggest losers included Genworth Financial Inc., which sank $1.28, or 14.9 percent, to $7.33 in afternoon trading and Hartford Financial Services Group Inc., down $3.94, or 9.6 percent, to $37.05.

Elsewhere, MetLife Inc. tumbled $8.67, or 15.5 percent, to $47.33 and Prudential Financial Inc. lost $7.26, or 10.1 percent, to $64.74.

Only a handful saw their shares rise, including American International Group Inc., which advanced 50 cents, or 15 percent, to $3.83, and Ambac Financial Group Inc., up $1.02, or 43.8 to $3.35.

Since mid-September, the nation has been rocked by disruptions in the financial markets that led to the downfall of Lehman Brothers Holdings Inc., forced Merrill Lynch into the arms of Bank of America Corp. and pushed Washington Mutual, the nation's largest thrift, to failure.

The government was also forced to step in and rescue AIG, one of the world's largest insurers.

Over the past couple of weeks, Genworth Financial's stock has been hit hard by concerns about its mortgage exposure. The company was placed on review for possible downgrade of its debt ratings by Moody's Investors Service late Tuesday.

U.S. mortgage insurers have been hit hard as homeowners have fallen behind on loan payments, and fewer mortgages are being issued as lending practices have tightened.