Rising unemployment sent the markets tumbling during the midday with the Dow plunging 148 points to 12,909. Nasdaq plummeted 61 points to 2542.
On the upside
Human Genome Sciences (Nasdaq: HGSI) will be presenting an overview of the company at the 26th Annual JPMorgan Healthcare Conference.
Goldman Sachs upgraded PetroChina (NYSE: PTR).
Shares of Greatbatch (NYSE: GB) rose after Banc of America Securities upgraded the medical components maker.
On the downside
Cleveland BioLabs (Nasdaq: CBLI) lost its bid for a $224.7 million defense contract.
Micrel (Nasdaq: MCRL) blamed disappointing sales in Asia for trimming its fourth quarter guidance.
Credit Suisse downgraded Global Payment (NYSE: GPN) .
In the broad market, declining issues outpaced advancers by a margin of nearly 4 to 1 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks plunged 17 points to 728.