Lincoln, MetLife Lead Insurer Slump as Yields Fall on Jobs Data
- Prudential, Genworth, Voya, Principal shares also decline
- Treasury 10-year rates fall below 2% first time since August
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U.S. life insurers, a group that holds more than $2 trillion in bonds, slumped in New York trading after a weaker-than-expected jobs report pushed yields lower.
Lincoln National Corp. dropped $1.83, or 3.9 percent, to $45.70 at 9:53 a.m. Friday in New York. MetLife Inc., the largest company in the industry, fell 3.8 percent.