Record Mortgage Delinquencies Send Markets Tumbling

Disappointing earnings and record mortgage delinquencies weighed on investors who sold off to send the markets down to a lower close with the Dow tumbling 93 points to 10,332. Nasdaq plunged 36 points to 2156.

On the upside

TTI Team Telecom International (Nasdaq: TTIL) reversed year ago losses to post a profit for the third quarter.

New York & Co. (NYSE: NWY) narrowed third quarter losses and said that the company expects to post a profit in the fourth quarter.

Trina Solar (NYSE: TSL) reported higher third quarter earnings that surpassed expectations.

On the downside

Despite a lack of news, shares of Tix (Nasdaq: TIXC) tumbled.

China Medical Technologies (Nasdaq: CMED) swung to a loss for the second quarter as expenses climbed.

The Federal Trade Commission may sue Pre-Paid Legal Services (NYSE: PPD) for false claims made by the company's identity theft protection program.

In the broad market, declining issues outpaced advancers by a margin of more than 4 to 1 on the NYSE and by nearly 4 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks stumbled 14 points to 585.

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