The markets closed sharply lower with the Dow collapsing 207 points to 11,706 ahead of the European summit meeting tomorrow. Nasdaq stumbled 61 points to 2638.

On the upside

Under Armour (NYSE: UA) impressed with higher third quarter earnings and revenue that topped analyst estimates and lifted its full year outlook.  

Third quarter earnings and revenue climbed for Albemarle (NYSE: ALB) to beat expectations. 

Rising gold prices lifted shares of Eldorado Gold (NYSE: EGO). 

On the downside

First Solar (Nasdaq: FSLR) announced the immediate departure of chief executive Rob Gillette.

Paragon Report issued research reports on mortgage insurers Genworth Financial (NYSE: GNW) and MGIC Investment (NYSE: MTG) saying that mortgage delinquencies rose in the second quarter.   

ResMed (NYSE: RMD) disappointed with lower third quarter earnings that fell short of analyst expectations.

In the broad market, declining issues outpaced advancers by a margin of more than 9 to 2 on the NYSE and by nearly 9 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks sank 22 points to 713.