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The Federal Housing Finance Agency, the federal regulator overseeing Fannie Mae and Freddie Mac, ordered the mortgage finance giants Wednesday to delist their shares from the New York Stock Exchange (NYSE). The delisting of the mortgage firms' stocks was triggered after Fannie's share price fell below $1 over 30 days, violating NYSE listing requirements. Both firms' stock prices plunged by nearly 40% after the announcement. |
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