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Fannie And Freddie Lead Stock Slide

by Lupe Lasano in business

Fannie and Freddie lead a downward slide for stocks

It's a rough day for investors in Freddie Mac (NYSE:FRE) and Fannie Mae (NYSE:FNM) as the the two companies start off the trading day way down.

Investors are worried that Freddie and Fannie will need to be bailed out by the government, a move that would push stock prices down accordingly. In light of the potential bad news, investors are heading for the exits and causing the two issues to crater.

Oil prices today hit a record of $146/barrel, which further exacerbated the nervous condition of the average Wall Street Participant.

Right now signs are not good for the financial sector as trading just opened.

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