Greece warned that reductions to its budget deficit will fall short of previously agreed levels with the European Union sending the markets tumbling to a sharply lower close with the Dow collapsing 258 points to 10,655. Nasdaq plummeted 79 points to 2335.
On the upside
Emergent BioSolutions (NYSE: EBS) received an order for 44.8 million doses of its anthrax vaccine BioThrax.
On the downside
Popular (Nasdaq: BPOP) declared a monthly dividend on several series of preferred stock payable on October 31 to shareholders of record October 15 but the stock price fell.
Concerns persist that Cemex (NYSE: CX) may default on its debt.
Westinghouse Solar switched suppliers from Suntech Power Holdings (NYSE: STP) to less expensive Lightway and expects to post a profit next year.
OfficeMax (NYSE: OMX) partnered with Google (Nasdaq: GOOG) to offer checkout terminals at more than 100 locations allowing customers to pay with Google Wallet but the stock price dropped.
Magnum Hunter (NYSE: MHR) announced a significantly higher daily production exit rate for the third quarter but the stock price dropped.
In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 1 on the NYSE and by nearly 10 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks plummeted 34 points to 609.