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Why Annaly Capital Management Stock Fell 25% This Week
Shares of Annaly Capital Management (NYSE: NLY) were among the losers this week as rising mortgage rates threatened to squeeze the mortgage REIT, and one analyst expressed caution on the stock. The company also executed a reverse stock split at the beginning of the week. Since the rate hike, which came with hawkish commentary from Fed Chair Jerome Powell, investors seem to believe the risk of a recession has grown, as well as the likelihood of a sustained high-interest-rate environment.
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