Disappointing earnings news sent the markets tumbling to a sharply lower close with the Dow plummeting 165 points to 10,978. Nasdaq stumbled 43 points to 2436.
On the upside
Shares of NetSpend Holdings (Nasdaq: NTSP) surged on its first trading day.
China indicated that it may lower again rare earth exports next year, which lifted shares of rare earth oxide company Molycorp (NYSE: MCP).
While third quarter earnings slipped for Domino's Pizza (NYSE: DPZ), revenue climbed to top analyst estimates.
On the downside
Apple (Nasdaq: AAPL) reported sharply higher third quarter earnings that beat expectations but margins fell and iPad sales disappointed.
The Federal Reserve Bank of New York joined a consortium of investment firms that are suing Bank of America (NYSE: BAC) to repurchase $47 billion in mortgage bonds.
Yahoo (Nasdaq: YHOO) more than doubled third quarter earnings but revenue fell to miss expectations.
In the broad market, declinig issues outpaced advancers by a margin of more than 4 to 1 on the NYSE and by more than 5 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 15 points to 694.
