Dow Jones breaches 16,000 mark
HW 30 suffers malaise despite strength in overall trading
In fact, when looking at the composite index of housing and mortgage finance stocks, it's clear many of the listed firms took some type of hit.
For the most part, the Dow was alone in its successful run. Both the Nasdaq and the S&P 500 concluded the day lower, falling 0.93% and 0.37%, respectively.
Homebuilder stocks ticked downward as the National Association of Home Builders Housing Market Index remained frozen on economic and political uncertainty.
As HousingWire noted, NAHB Chairman Rick Judson said, "Given the current interest rate and pricing environment, consumers continue to show interest in purchasing new homes, but are holding back because Congress keeps pushing critical decisions on budget, tax and government spending issues down the road."
The significant drop comes after Bill Ackman's hedge fund Pershing Square announced on Friday that it's taking a 9.77% stake in mortgage giant Freddie Mac, and a 9.98% stake in Fannie Mae.