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Shares in New York could not hold onto most of their early gains on Monday, initially moving higher on Washington's plan to shore up the mortgage giants Fannie Mae and Freddie Mac. But shares fell back as the morning went on. In the first hour, the Dow Jones industrial average was up about 0.49 percent. That gain had eroded by noon, and the Dow was down about 0.23 percent. The Standard & Poor's 500-stock index was essentially flat, while the Nasdaq was down slightly.Freddie Mac shares were down about 1 percent, while Fannie Mae shares were up about 1.6 percent.
In the first hour, the Dow Jones industrial average was up about 0.49 percent. That gain had eroded by noon, and the Dow was down about 0.23 percent. The Standard & Poor's 500-stock index was essentially flat, while the Nasdaq was down slightly.
Freddie Mac shares were down about 1 percent, while Fannie Mae shares were up about 1.6 percent.
