Quick 5 point move lower
There was nothing damaging from Mnuchin as the quick drop hit but Tuesday's low did crack.
Two big losers in his testimony are Fannie Mae and Freddie Mac, which are down more than 3%.
"I believe (Fannie Mae and Freddie Mac) are very important entities to provide the necessary liquidity for housing finance. But we need housing reform," Mnuchin said. "We should not just leave Fannie and Freddie as is for the next four years under government control without a fix."
He added that no government money should go into the companies.