Citigroup sent ACE Limited stock plummeting yesterday after Citi Investment Research said it was downgrading shares to hold status and lowering its earnings per share expectations.

The move sent the Bermuda-based insurer’s stock on the New York Stock Exchange down 19.76 percent to close at $40.45 per share, down from $50.41 as the Dow Jones Industrial average fell 427.47 points

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