CNBC's Bertha Cooms - Margin calls and renewed credit market worries prompted another Wall Street retreat ahead of Friday’s big jobs report, the major index is ending the day a year lows.  The Dow down 214 points, the S&P 500 tumbling 29 points while the Nasdaq shed 52points.

Investors spooked by news that Thornburg mortgage failed to make a margin call on its USD 21.7 billion portfolio that along with the reports that the division of the Carlyle Group faces similar margin pressures, really hit the credit markets. Real estate investment trust with exposure to mortgages saw violent double-digit decline among the biggest losers MFA Mortgage investments.

The new Fed reports shows that home equity in US Homes has fallen below 50% for the first time since World War-II not helping the mortgage players. Fannie Mae and Freddie Mac both hitting multi year lows, all leading to concerns that will see more write downs from the big banks sending shares of financials overall to multi-year lows.  

Wall Street Action:

• US mkts retreat triggered by margin calls & renewed credit mkt worries
• Dow down 214 pts, S&P 500 declines 29 pts & Nasdaq sheds 52 pts
• Thornburg Mortgage fails to meet margin call on its $21.7 bn portfolio
• Division of Carlyle Grp faces similar margin pressure
• Real estate invst trust with exposure to mortgages sees double digit decline
• Fed report: US home equity falls below 50% for 1st time since World War II