REIT Share Slump Deepens in U.S. on Interest-Rate Concern
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U.S. real estate investment trusts plunged, capping the worst two-day decline since October 2011, as investors sold shares of the companies vulnerable to rising interest rates.
The Bloomberg REIT Index fell 4.2 percent, extending a 3 percent slump yesterday, to close at the lowest level since December. Single-tenant real estate landlords, which are viewed as bond-like investments because of their long-term leases, led today’s decline with a 5.5 percent slump.