Shares of Fannie Mae and Freddie Mac fell sharply again Friday morning, with Fannie's stock price down 21% and Freddie's down 22% on the day in morning trading.

The sell-off reflects concerns that the government-sponsored enterprises will need to raise significant amounts of capital or could end up in government receivership.

The woes of the GSEs, along with higher oil prices, pushed the broader market down sharply as well.

The Dow Jones Industrial Average was down 213 points at noon, or almost 2%, with firms in the financial sector posting even larger losses.

Fannie Mae's shares had fallen to $10.38 at noon Friday; Freddie Mac's shares stood at $6.20. At the start of this week, the GSEs' share prices were at $18.76 and $14.53 respectively.

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