Author: 123jump.com Staff
123jump.com
Last Update: 11:46 AM EDT July 09 2008


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Banks and mortgage lenders remain the focus of nervous investors. Fannie Mae dropped after it sold $3 billion offering at higher yield than its previous offering a month ago. Fannie and Freddie dropped more than 5%. Alcoa second quarter revenue dropped 6% to $7.6 billion and net income declined 24% to $546 million. Aluminum, zinc and copper fall in the morning trading.