Mortgage REITs Slide Most Since 2011 on Fed Tapering Concern
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Real estate investment trusts that buy mortgage debt slumped after a better-than-forecast employment report stoked speculation the Federal Reserve will begin to reduce the size of its asset purchases.
A Bloomberg index of shares in the REITs tumbled 3.9 percent as of 4:40 p.m. in New York, the largest drop since October 2011. Annaly Capital Management Inc., the largest of the companies, and American Capital Agency Corp., the second biggest, each plunged more than 5 percent.