Dow Down 210 As Fed Fears Revived

Fears about the Federal Reserve ending the stimulus program once again have spooked investors as the Dow Jones Industrial Average fell 210 points in Friday’s training.

The fear also caused 18 of the 19 Mortgage Industry Equity Composite stocks to close lower than at the start of the day. The only stock to buck the trend was Redwood Trust, which was unchanged.

The stock with the largest percentage loss was OceanFirst Financial, down 2.6%, followed by PennyMac at 2.52%, and Astoria Financial and Radian Group, both down 2.28%.

Radian-competitor MGIC Investment Corp. was down 0.48% on a day when strong numbers for private mortgage insurers business in April were released.

Fannie Mae and Freddie Mac, after two days of massive declines, gained 21.39% and 26.87%, respectively, on Wednesday. Both are back over $2 per share; Fannie is $2.10 and Freddie is $2.03.