Financial Stocks Down On Growth, Rate Views - Financials Roundup

Features Dow Jones Newswires

Banks, lenders and other financial companies fell as traders backed off bets on accelerated economic growth and higher interest rates. Insurer Massachusetts Mutual Life Insurance agreed to sell its Hong Kong-based operations for about $1.7 billion to a group of Asian investors that includes two companies affiliated with Chinese billionaire Jack Ma. The deal includes $1 billion in cash and a 25% stake for MassMutual in a Chinese financial technology concern.

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-Rob Curran, rob.curran@dowjones.com

(END) Dow Jones Newswires

August 17, 2017 16:38 ET (20:38 GMT)