NEW closed at 36% drop in one day. This is a good article and the link:

U.S. mortgage carnage bad, but could be worse

http://yahoo.reuters.com/news/articlehybrid.aspx?storyID=urn:newsml:reuters.com:20070208:MTFH44814_2007-02-08_21-48-23_N08301501&type=comktNews&rpc=44