Hartford Financial Services' investors' knees buckled under fears that it could be the next financial firm to collapse.
Shares of the Hartford, Conn.-based insurer and investment manager fell 18.0%, or $9.01, to close at $40.99 on fears its exposure to the beleaguered credit markets and tenuous financial strength will lead to a chain reaction now all too familiar on Wall Street.
Fitch warned as much late Monday. On Tuesday, the credit rating agency said the company's exposure to credit markets could trigger ratings downgrades, and that it had revised its outlook on Hartford (nyse: HIG - news - people ) to "negative."
