Shares in US mortgage firms Freddie Mac and Fannie Mae have fallen by more than 40% in early trading amid concerns for the future of the companies.
Investors are concerned that the government may have to step in to rescue them, a move that would wipe out the value of existing shares.
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The companies are behind half of all US mortgages and have been hard hit by the slowdown in the housing market.
Freddie Mac shares fell $4.03, or 50%, to $3.97, at the start of trading. Shares of Fannie Mae fell $6.09, or 46%, to $7.11.
(BBC)
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