China May Raise Interest Rates, Markets Extend Losses

The markets extended its losses during the midday with the Dow tumbling 127 points to 11,155 over concerns that China may raise interest rates. Nasdaq plunged 43 points to 2511.

On the upside

Third quarter earnings for Dillard's (Nasdaq: DDS) nearly doubled as margins improved and expenses decreased.

Sensata Technologies (NYSE: ST) priced its secondary offering of 20 million shares at $24.10 per share.

Microsemi (Nasdaq: MSCC) reversed year ago losses to post a better than expected profit for the fourth quarter and forecast first quarter results ahead of analyst estimates.

On the downside

MPG Trust (NYSE: MPG) president and chief executive Nelson C. Rising announced his resignation effective November 15, 2010.

Rodman & Renshaw warned of lower than expected sales of Apple's iPad (Nasdaq: AAPL) as consumers scale back technology spending.

Reuters reported that Qualcomm (Nasdaq: QCOM) intends to sell it Indian broadband business.

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 1 on the NYSE and by more than 4 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 12 points to 719.