Here's Why Fannie Mae and Freddie Mac Stocks Were Plunging on Monday
The stock market is off to a rough start to the week after the Senate failed to agree on a much-needed fiscal stimulus. At the close today, the Dow Jones Industrial Average and S&P 500 index were both down by about 3%.
The two mortgage giants, Fannie Mae (OTC: FNMA) and Freddie Mac (OTC: FMCC), were hit far worse, with their stocks down by 14% and 12%, respectively. Both have now lost roughly 60% of their value so far in 2020.
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Source Fool.com