A drop in factory output in China sparked concerns of a stalled economic recovery to extend market losses during the midday with the Dow collapsing 240 points to 10,403. Nasdaq stumbling 68 points to 2208.
On the upside
The Department of Homeland Security awarded ICOP Digital (Nasdaq: ICOP) a contract for the company's ICOP Model 20/20-W in-car video systems.
Ameristar Casinos (Nasdaq: ASCA) retained the services of Lazard to explore the possible sale of the company.
China MediaExpress (NYSE: CCME) forecast second quarter earnings ahead of analyst expectations.
On the downside
Cardiome Pharma (Nasdaq: CRME) swung to a profit for the second quarter but the stock price fell.
Stifel Nicolaus downgraded Monolithic Power (Nasdaq: MPWR).
U.S. District Court Judge William Alsup ordered Wells Fargo (NYSE: WFC) to pay $203 million in restitution to California customers for deceptive overdraft fee practices.
In the broad market, declining issues outpaced advancers by a margin of 6 to 1 on the NYSE and by nearly 9 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks plummeted 23 points to 622.
