The markets opened lower with the Dow slipping 7 points to 16,651 despite a drop in import prices as fears mounted that Europe would slip into another recession. Nasdaq plunged 57 points to 4,320.

On the upside

Exact Sciences' (Nasdaq: EXAS) Cologuard is the first Food and Drug Administration approved stool DNA test to detect colorectal cancer and pre cancer to be covered by Medicare.

Infosys (Nasdaq: INFY) reported higher second quarter earning and revenue.

Hazmat suit maker Lakeland Industries (Nasdaq: LAKE) extended its gains.

On the downside

GT Advanced Technologies (Nasdaq: GTAT) will end its sapphire glass production.

Knowles (NYSE: KN) warned that third quarter revenue and earnings would fall short of expectations.

Manitowoc (NYSE: MTW) reported lower preliminary third quarter results and warned that full year Crane segment revenue would drop.

In the broad market, declining issues outpaced advancers by a margin of nearly 2 to 1 on the NYSE and by more than 3 to 2 on Nasdaq. The broader S&P 500 lost 9 points to 1918. Bitcoin edged up $1 to $355.