Concerns about an expanding European debt crisis sent the markets into a tailspin with the Dow collapsing
214 points
to 11,025.
Nasdaq sank 42 points to 2437.
On the upside
The Shaw Group (NYSE: SHAW) will sell its 20% stake in Westinghouse Electric to Toshiba for approximately $1.6 billion.
Hollysys Automation Technologies (Nasdaq: HOLI) announced that members of the management team have acquired approximately 725,467 shares of company stock.
Pharmasset (Nasdaq: VRUS) reported positive results from a mid-stage clinical trial of its hepatitis C treatment PSI-7977.
On the downside
World Street Fundamentals issued a research report on Alcatel-Lucent (NYSE: ALU) but the stock price fell.
Analysts expect National Semiconductor (NYSE: STM) to report lower first quarter earnings when the company announces results on Thursday.
Morgan Stanley downgraded Philips Electronics (NYSE: PHG) to an Underweight rating.
In the broad market, declining issues outpaced advancers by a margin of more than 5 to 1 on the NYSE and by nearly 7 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 11 points to 671.
