The disappointing market debut of social networking giant Facebook weighed the markets down to a lower close with the Dow falling 73 points to 12,369. Nasdaq dropped 34 points to 2778.
On the upside
Bargain hunters snapped up shares of Clearwire (Nasdaq: CLWR).
Beazer Homes (NYSE: BZH) formed a real estate investment trust to acquire, refurbish and lease previously-owned single-family homes.
Rising gold prices lifted shares of AngloGold Ashanti (NYSE: AU).
On the downside
Online social games company Zynga (Nasdaq: ZNGA) tumbled after Facebook’s (Nasdaq: FB) disappointing market debut.
Shares of JA Solar (Nasdaq: JASO) continued falling after the Commerce Department announced new tariffs yesterday on solar panel imports from China.
Mad Money’s Jim Cramer rated Walter Energy (NYSE: WLT) a Sell.
In the broad market, declining issues outpaced advancers by a margin of more than 3 to 1 on the NYSE and by 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 7 points to 747.
