Rather than lending each other money, European banks deposited a record $590.72 billion overnight with the European Central Bank raising concerns of economic stagnation. The market closed sharply lower with the Dow plummeting 139 points to 12,151. Nasdaq plunged 35 points to 2589.
On the upside
TheStreet listed Zogenix (Nasdaq: ZGNX) as one of five stocks that is ready to breakout.
Delcath Systems' (Nasdaq: DCTH) Ireland site achieved the internationally recognized quality standard of ISO 13485:2003.
Investors snapped up shares of USEC (Nasdaq: USU), whose stock price has plunged nearly 79% in 2011.
On the downside
Zagg (Nasdaq: ZAGG) chief executive Robert G. Pedersen II sold approximately $2.5 million worth of company stock while beneficial owner Scott H. Huskinson sold more than $6.9 million worth of stock.
Falling gold and silver prices weighed down shares of Hecla Mining (NYSE: HL).
Motley Fool wrote that GMX Resources (NYSE: GMXR) performed poorly in 2011.
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 16 points to 735.
