Closing Bell: The Dollar and Overseas Markets Weigh on U.S. (C, HOV, NEM, RIMM, SQNM, GS, FUN)

Citigroup, Inc. (C) has shown how desperate it is to get out of the TARP. The $17 billion in direct stock sales at $3.15 compared to a $3.45 close and versus a share price north of $4.00 two weeks ago before the sudden TARP repayments came front and center. About 15 minutes before the closing bell, Citi shares were down 7.25% at $3.20.

Hovnanian Enterprises (HOV) had a huge day yesterday on the heels of the housing starts data, but shares were weak today after it had a much wider loss versus estimates. Shares were down over 7% at $3.92 late in the day, despite a Moody's call noting the bottom in the sector has been reached.

Newmont Mining Corporation (NEM) was one of the worst of the major gold performers today as the price of the shiny yellow metal was crushed. Shares were down 5.3% at $48.00 right before the closing bell, leading more questions to whether the gold trade is dead the rest of the year.

Research In Motion Limited (RIMM) might have had a better day ahead of earnings, but a partial Blackberry service outage added a negative bias. Shares were down 1.6% at $63.65 right before earnings.

Sequenom, Inc. (SQNM) took a big hit on light volume today after an outside group accused the company of fudging its down's syndrome test results in 2008. Shares were down 8% at $3.84 right before the closing bell.

Cedar Fair LP (FUN) was a huge winner today with a 23% gain to $11.20 before the closing bell. It is being acquired by the private equity giant Apollo.

Goldman Sachs, Inc. (GS) was hit by none other than analyst Meredith Whitney with a downgrade to earnings estimates in the next two years today. Shares were down 2.4% close to the lows of the day at $160.95 right before the closing bell.