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Updated from 1:24 p.m. EDT
A day after the Federal Reserve's half-point interest-rate cut, financial stocks continued to swoon, rocketing out of the gate before cooling off by late morning Wednesday.
The NYSE Financial Sector Index gained 0.9% to 9295.54, as several of its mortgage-concern components bounced higher than most.
Lenders Countrywide Financial (CFC Quote), Fremont General (FMT Quote) and IndyMac (IMB Quote) climbed 3.3%, 7% and 4.1%, respectively; and mortgage insurer MGIC Investment (MTG Quote) added 4.3%. ...
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