Because of the company's extensive holdings overseas, the stock weakened last fall, when Mr. Fries began buying shares at $25 each.
Federated's stock weakened again yesterday, falling 87.5 cents, to $64.75.
Though stocks weakened because of the price index, traders also cited the performance by Motorola Inc. as having an effect.
The regional Bell stocks and oil shares were among those rising, but many cyclical stocks weakened.
It was the first time these stocks had weakened in the face of market strength.
The Dow Jones industrial average fell 22.05 points, to close at 1,878.15, and many smaller stocks weakened badly.
Anxiety over North Korea spread to Wall Street where stocks weakened.
The stock weakened earlier in the week when the Justice Department asked a Federal court to allow more competition in the telecommunications industry.
Earlier the stock had weakened on news that the Food and Drug Administration is investigating recent drug recalls at the company, traders said.
Markets High-tech stocks had a good day, but stocks weakened across the board.