Drop In Consumer Sentiment Weighs Down Markets
A drop in consumer sentiment sent the markets tumbling during the midday with the Dow plunging 137 points to 12,977. Nasdaq plummeted 36 points to 2953.
On the upside
Bargain hunters lifted shares of Nu Skin Enterprises (NYSE: NUS).
Rising silver prices lifted shares of Silvercorp Metals (NYSE: SVM).
BPZ Energy (NYSE: BPZ) sold a 49% stake in Block Z-1 to Pacific Rubiales Energy.
On the downside
The Wall Street Journal named RadioShack (NYSE: RSH) as one of four retailers on its 2012 do-or-die list. Zacks affirmed its Neutral rating on Quicksilver Resources (NYSE: KWK).
Zacks rated 3D Systems (NYSE: DDD) a Strong Buy but the stock price tumbled.
In the broad market, declining issues outpaced advancers by a margin of more than 3 to 1 on the NYSE and by more than 5 to 2 on Nasdaq. The broader S&P 500 index dropped 17 points to 1402.
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