End of Stimulus Fears Hit Mortgage Stocks for Second Day

If investors didn’t like what Ben Bernanke said about the future of the Federal Reserve’s stimulus program on Wednesday, after digesting it overnight, the negative reaction got even stronger.

The Dow Jones Industrial Average plummeted 354 points and tumbled below the 15,000 mark during Thursday’s trading. Of the 17 Mortgage Industry Equity Composite stocks, 15 were losers.

There were five MIEC stocks which lost more than 5% from their close on Wednesday: CoreLogic, down 6.67%; KB Home, down 6.57%; Ellie Mae, down 5.60%; Redwood Trust, down 5.56% and Radian Group, down 5.18%.

The only gainers were Hudson City Bancorp., up 0.24%; and Bank of Hawaii, up 0.22%.