Countrywide Financial Corp shares plunged on Wednesday amid ongoing concern over rising foreclosures.
Shares of the Calabasas, California-based firm fell $0.86, or 8.4 percent, to $9.42 in trading on the New York Stock Exchange
Late Tuesday, commenting over market rumors, Countrywide said it had ample liquidity and capital in a move to reassure investors.
The firm was fending itself from rumors that the company could go bankrupt. Countrywide said it had $35.4 billion in highly reliable liquidity, up from$33.6 billion available at September 2007.