Fannie and Freddie Shares Tank as Doubt Swirls About Trump Plans

Shares of Fannie Mae and Freddie Mac, down about 70% in the last six months, hit their lowest level in more than a year as investors cast doubt on the Trump administration’s efforts to sell more stock in the mortgage-finance giants to the public.

The shares have been on a steep decline since mid-September, shortly after optimism peaked that a public offering for the agencies could come in 2025. That didn’t happen.

A separate class of shares called preferred equity, which are largely owned by long-term institutional investors, have also declined. Freddie Mac perpetual shares are down about ...