NEW YORK – Wall Street tumbled into a moderate gain after fluctuating up and down mirroring the oil prices and uncertainties regarding the financial sector of the economy.
The mortgaging crisis continues to cause panic among investors. Fannie Mae and Freddie Mac shares lost 27 and 22 percent respectively. It is this sector that is particularly befuddling the markets who are nervous that the government-chartered companies will need to be bailed out from Treasury Department which could in turn result in shareholder equity being erased.
