Despite falling oil prices, the markets closed lower over concerns about the continuing credit crisis. The Dow tumbled 55 points to 12,988 while Nasdaq plunged 44 points to 2584.
On the upside
Southwest Airlines (NYSE: LUV) created a new Business Select class and will add two Saturday flights from Pittsburgh to Florida.
Levitt Corp. (NYSE: LEV) filed for Chapter 11 banktruptcy protection after reporting steep third quarter losses.
Falling oil prices lifted shares of Delta Air Lines (NYSE: DAL).
On the downside
Concerns that Congress will pass the energy bill without renewable energy initiatives sent shares of Yingli Green Energy Holding (NYSE: YGE) tumbling.
Shares of Trina Solar (NYSE: TSL) plummeted over concerns that Congress will pass the energy bill without including solar incentives.
Citigroup downgraded McDermott International (NYSE: MDR).
In the broad market, declining issues outpaced advancers by a margin of more than 2 to 1 on the NYSE and by more than 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks fell 5 points to 767.
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