Record Jobless Claims Weighs Down Markets

Record jobless claims and plunging new home sales sent the markets tumbling during the midday with the Dow skidding 204 points to 8171. Nasdaq slumped 48 points to 1510.

On the upside

Gold Fields (NYSE: GFI) reported higher fourth quarter earnings and achieved full production at its expansion projects.

Although second quarter earnings for Western Digital (NYSE: WDC) tumbled, the results beat expectations.

AutoNation (NYSE: AN) reported higher fourth quarter earnings that surpassed estimates due to a tax adjustment.

On the downside