No Fiscal Cliff Deal, Markets Close Lower
The markets retreated to close lower with the Dow tumbling 98 points to 13,251 as another day passed without a fiscal cliff deal. Nasdaq lost 10 points to 3044.
On the upside
Neptune Technologies & Bioressources (Nasdaq: NEPT) will resume production in Sherbooke, Quebec in six to nine months.
Shares of National Bank of Greece (NYSE: NBG) rose after the European Central Bank announced that it would begin accepting Greek debt as collateral.
China's announcement that it would support solar industry consolidations lifted shares of LDK Solar (NYSE: LDK), Trina Solar (NYSE: TSL) and Yingli Green Energy (NYSE: YGE).
On the downside
THQ (Nasdaq: THQI) filed for Chapter 11 bankruptcy protection. Profit taking sank shares of Nu Skin Enterprises (NYSE: NUS).
Blyth (NYSE: BTH) paid $57.4 million to increase its stake in ViSalus to over 80%.
In the broad market, advancing issues were on par with decliners on the NYSE while advancers barely edged out decliners by a slim margin on Nasdaq. The broader S&P 500 index fell 10 points to 1435.
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