The markets plummeted to close sharply lower with the Dow stumbling 172 points to 11,951 as investors worried about the faltering economy. Nasdaq plummeted 41 points to 2643.
On the upside
Shares of Coffee Holding (Nasdaq: JVA) continued rising after reporting sharply higher second quarter earnings yesterday.
The Wisconsin Housing and Economic Development Authority partnered with MGIC Investment (NYSE: MTG) subsidiary eMagic.com to develop a secure web-based portal for loan package submissions.
Eastman Kodak (Nasdaq: EK) chief executive M. Antonio Perez and senior vice president Pradeep Jotwani both purchased shares in the company recently.
On the downside
J. P. Morgan reported that demand for replacement tires dropped in May weighing down shares of Cooper Tire & Rubber (NYSE: CTB).
Shares of Beazer Homes (NYSE: BZH) fell after StockCall.com issued a report saying that the residential construction industry will continue to struggle.
Diodes (Nasdaq: DIOD) warned that second quarter margins will miss expectations.
In the broad market, declining issues outpaced advancers by a margin of more than 4 to 1 on the NYSE and by nearly 7 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 13 points to 779.
