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Mortgage Market Woes Pull Down Stocks

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Mortgage Market Woes Pull Down Stocks

Economy

Mortgage Market Woes Pull Down Stocks

Mortgage Market Woes Pull Down Stocks

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  • <iframe src="https://www.npr.org/player/embed/12218556/12218557" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
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One of the country's biggest lenders, Countrywide Financial, says the slowdown in the subprime mortgage market appears to be spreading, fueling the slide in stock prices across the board. The Dow Jones Industrial average lost 226.47, or 1.62 percent, closing at 13,716.95. It was the biggest drop since March 13, when 242 points were lost, also amid concerns over the subprime market.