Markets Tumble As Consumer Sentiment Slips

A drop in consumer sentiment sent the markets tumbling during the midday with the Dow plummeting 100 points to 15,075. Nasdaq fell 17 points to 3428.

On the upside

Rumors circulated that Nokia (NYSE: NOK) would introduce its flagship, high-end, Windows camera phone at a July 11 event.

Piper Jaffary believes that Apple (Nasdaq: AAPL) has incorporated more InvenSense (Nasdaq: INVN) solutions in its new operating system.

Uni-Pixel (Nasdaq: UNXL) chief executive Reed J. Killion purchased 3,400 shares of company stock.

On the downside

Investors locked in profits on Gannett (NYSE: GCI).

Cempra (Nasdaq: CEMP) priced its public offering of 7.25 million common shares at the discount price of $7.00 per share.

American Superconductor (Nasdaq: AMSC) narrowed fourth quarter losses but revenue dropped.

In the broad market, declining issues outpaced advancers by a margin of nearly 10 to 9 on the NYSE and by more than 2 to 1 on Nasdaq. The broader S&P 500 index fell 8 points to 1627.

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