CNNMoney.com: Fannie, Freddie plunge after the open
CNNMoney.com: Fannie, Freddie plunge after the open NEW YORK (CNNMoney.com) — Battered mortgage giants Fannie Mae and Freddie Mac took yet another hit at the start of trading Wednesday as concerns grew about a possible government bailout.
The stock for Fannie (FNM, Fortune 500) dropped 16% and Freddie (FRE, Fortune 500) tumbled 18% as the markets opened.
This was in addition to steep declines of more than 20% so far this week. So far this year, Fannie and Freddie shares have each plunged more than 80%.
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Original post by plato
