Facebook's IPO Disappoints, Markets Close Lower

The disappointing market debut of social networking giant Facebook weighed the markets down to a lower close with the Dow falling 73 points to 12,369. Nasdaq dropped 34 points to 2778.

On the upside

Bargain hunters snapped up shares of Clearwire (Nasdaq: CLWR).


Beazer Homes (NYSE: BZH) formed a real estate investment trust to acquire, refurbish and lease previously-owned single-family homes.


Rising gold prices lifted shares of AngloGold Ashanti (NYSE: AU).


On the downside


Online social games company Zynga (Nasdaq: ZNGA) tumbled after Facebook's (Nasdaq: FB) disappointing market debut.


Shares of JA Solar (Nasdaq: JASO) continued falling after the Commerce Department announced new tariffs yesterday on solar panel imports from China.

Mad Money's Jim Cramer rated Walter Energy (NYSE: WLT) a Sell.

In the broad market, declining issues outpaced advancers by a margin of more than 3 to 1 on the NYSE and by 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 7 points to 747.

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