Markets Collapse Over Stagnant Job Growth
Stagnant job growth sparked fears of a double dip recession sending the markets tumbling to a sharply lower close with the Dow collapsing 253 points
to 11,240.
Nasdaq plummeted 65
points to
2480.
A Forbes article said that Mecox Lane (NYSE: MCOX) was a bargain.
On the downside
Esterline Technologies (NYSE: ESL) disappointed with lower third quarter earnings.
The International Trade Commission will review a determination made by a judge on July 1 that Apple's (Nasdaq: AAPL) Mac OS X system infringed on two patents held by S3 Graphics.
Wedbush downgraded Talbots (NYSE: TLB) to an Underperform rating.
Cowen & Co. analyst Matthew Hoffman said that sales will improve for Qualcomm (Nasdaq: QCOM) but the stock price fell.
Concerns of a solar industry slowdown weighed down shares of Trina Solar (NYSE: TSL).
In the broad market, declining issues outpaced advancers by a margin of nearly to 1 on the NYSE and by nearly 6 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks plummeted 25 points to 683.
