Concerns about a disappointing holiday shopping season sent the markets tumbling to a lower close with the Dow plunging 121 points to 13,110. Nasdaq plummeted 26 points to 2619.
On the upside
Virtual Radiologic (Nasdaq: VRAD) made its market debut by soaring 22%.
Although fourth quarter earnings for Charlotte Russe (Nasdaq: CHIC) fell, the results beat expectations.
LDK Solar (NYSE: LDK) forecast fourth quarter results in line with expectations while reassuring investors that business remained strong.
On the downside
Global Cash Access Holdings (NYSE: GCA) will delay its quarterly report while conducting a confidential internal investigation.
The Office of Federal Housing Enterprise Oversight said that Fannie Mae (NYSE: FNM) is not in full compliance with regulations.
Billionaire investor George Soros purchased 1.8 million shares of Countrywide Financial (NYSE: CFC).
In the broad market, declining issues outpaced advancers by a margin of 11 to 3 on the NYSE and by 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 11 points to 772.