Markets Plummet Over Mortgage Industry Concerns

Sharply lower earnings at Countrywide sparked renewed concerns about the mortgage industry sending the markets plummeting with the Dow skidding 226 points to 13,717. Nasdaq plunged 51 points to 2640 while S&P 500 tumbled 31 points to 1511. The 30-year bond edgedup as the yield eased to 5.062%.