A surge in Italian bond yields sent the markets into a tailspin with the Dow collapsing 389 points to 11,780. Nasdaq plummeted 105 points to 2621.

On the upside

Credit Suisse analyst Edward Kelly upgraded Rite Aid (NYSE: RAD) to an Outperform rating.

Barnes & Noble (NYSE: BKS) will present at Liberty Media's annual investor meeting on November 17, 2011.

Gentiva Health Services (Nasdaq: GTV) presented its strategic operations at the Credit Suisse 2011 Healthcare Conference today.

On the downside

ATP Oil & Gas (Nasdaq: ATPG) narrowed third quarter losses but the stock price dropped.

IntraLinks Holdings (NYSE: IL) swung to a profit for the third quarter but the results fell short of estimates and the company forecast fourth quarter results below expectations.

Computer Sciences (NYSE: CSC) blamed a significant impairment charge for swinging to a second quarter loss and lowered its full year guidance.

In the broad market, declining issues outpaced advancers by a margin of nearly 9 to 1 on the NYSE and by more than 7 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks plummeted 36 points to 718.