Sector Snap: REIT shares amid market sell-off

Wall Street worried that without the government's plan to purchase bad mortgages, the credit markets won't loosen up and businesses and individuals will have a hard time borrowing money.

The squeeze on credit has hit the commercial real estate sector particularly hard, nearly stalling the investment sales market and new development.

Shares of retail REIT General Growth Properties Inc. plunged $2.18, or 13 percent, to $14.87. Simon Property Group Inc.'s stock fell $5, or 5 percent, to $94.70.

Vornado Realty Trust fell $6.70, or 7.1 percent, to $88.01, while Office REIT Boston Properties Inc. fell $3.73, or 3.9 percent, to $90.98.

Apartment REIT AvalonBay Communities Inc. fell $5.96, or 6 percent, to $93.30, and Equity Residential fell $2.51, or 5.5 percent, to $43.