Pessimism among investors was rooted in a disappointing batch of economic data and moderate strength in the dollar. Palm said it expects revenue to fall far below current forecasts due to worse-than-expected sales of its new smartphones. Shares plunged 19% on the forecast. However, the market managed to cut losses as buyers stepped in.
Advancing Sectors: (None)
Declining Sectors: Telecom (-0.4%), Utilities (-0.3%), Financials (-0.3%), Industrials (-0.3%), Tech (-0.2%), Materials (-0.2%), Energy (-0.2%), Consumer Staples (-0.1%), Health Care (-0.1%), Consumer Discretionary (-0.1%)

FEAR METER: The QQQQ implied volatility remained on the low level.