Stock fall sharply on Fannie, Freddie worries (AP)

Courtesy Ytop stories  Fri, 07/11/2008 - 10:43am

Traders work the floor of the New York Stock Exchange Thursday, July 10, 2008 in New York.<br /><br />Stocks rebounded Thursday after discounters posted better-than-expected sales for June and Dow Chemical Co. announced an agreement to acquire rival Rohm and Haas Co. in a deal worth more than $15 billion.<br /><br />(AP Photo/Frank Franklin II)AP - Stocks tumbled Friday as investors focused on troubles at mortgage companies Fannie Mae and Freddie Mac and watched oil prices climb further into record territory.

The Dow Jones industrials fell more than 200 points and slid below the 11,000 mark for the first time in two years.




 

More related items

US spells out Fannie-Freddie backstop plan (AP)
AP - The Federal Reserve and the Treasury announced steps Sunday to shore up mortgage giants Fannie Mae and Freddie Mac, whose shares have plunged as losses from their mortgage holdings...

US spells out Fannie-Freddie backstop plan (AP)
AP - The Federal Reserve and the U.S. Treasury announced steps Sunday to shore up mortgage giants Fannie Mae and Freddie Mac, whose shares have plunged as losses from their mortgage holdings...

Washington, Wall St. weigh Fannie, Freddie help (AP)
AP - Wall Street and Washington wrestled Friday with how to shore up mortgage giants Fannie Mae and Freddie Mac, two troubled pillars of the economy whose failure would deal a devastating...

Fannie, Freddie sink on government rescue fears (AP)
AP - Fears that the government will be forced to rescue Fannie Mae and Freddie Mac could well become a self-fulfilling prophecy.

Fannie, Freddie cleared to pump $200 billion into market...
Reuters - The regulator of Fannie Mae and Freddie Mac on Wednesday eased capital requirements for the two biggest housing finance agencies, allowing them to pump up to $200 billion into the...


 

Post new comment

The content of this field is kept private and will not be shown publicly.