Wall Street got hammered Monday following growing concerns over the financial health of Fannie Mae and Freddie Mac as shares of the two mortgage giants dropped more than 20 percent to their lowest levels in nearly 20 years.
The Dow Jones Industrial Average tumbled by 180.51 points, or 1.6 percent, to 11,479.4. The S&P 500 fell to 1,278.60, down 19.60, or 1.5 percent, while the S&P Retail Index declined to 393.74, falling 6.58, or 1.6 percent. Few retailers escaped the carnage. The few that did included Tween Brands, up 48 cents, or 5 percent, to close at $10; American Apparel Inc., which saw its shares climb to $8.59, up 39 cents, or 4.8 percent, and New York & Company, rising to $10.56, up 33 cents, or 3.2 percent. Another was American Eagle Outfitters, which rose 17 cents, or 1.2 percent, to close at $14.42.
Issa Rae stopped by WWD's NYC headquarters to talk about season two of "Insecure," which premieres this Sunday on HBO. Click link in bio for all the details. #wwdeye (📷: @jgreenery; Styled by @mayteallende)
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"