Continued concerns about the European debt crisis sent the markets tumbling to a sharply lower close with the Dow plunging 134 points to 11,770. Nasdaq sank 51 points to 2587.

On the upside

The Children’s Place (Nasdaq: PLCE) reported higher third quarter earnings and revenue that topped analyst estimates and lifted its full year guidance.  

Barnes & Noble (NYSE: BKS) chief executive William Lynch expects to expand its share of both the print and digital book markets. 

Sino Clean Energy (Nasdaq: SCEI) reported lower third quarter earnings and revenue but the company affirmed its full year guidance.

On the downside

Aruba Networks (Nasdaq: ARUN) reported a loss for the first quarter after market close.

Ternium (NYSE: TX) engaged in discussions to acquire a stake in rival steelmaker Usiminas. 

OCZ Technology Group (Nasdaq: OCZ) will supply solid-state drives to Voxel for their VoxSERVER hosting environments.

In the broad market, declining issues outpaced advancers by a margin of more than 4 to 1 on the NYSE and by nearly 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 11 points to 718.