Stocks tumbled Thursday after an analyst downgrade on the chip sector and gains in the dollar. Intel, Alcoa and GE were the Dow's biggest losers.

GameStop Corp., the world's largest video game retailer, said Thursday that sales of new hot-selling games helped boost its third-quarter profit nearly 12 percent and offset a sales decline for video game hardware.

The Dow dropped over 100 points Thursday, led by Intel, after an analyst downgrade on the chip sector. A stronger dollar also weighed on the market.

Stocks fell sharply Thursday as a jobless-claims report did little to assuage economic worries and investors pushed the dollar higher.

Stocks were set to extend the previous session's losses at the opening bell Thursday, with European stocks dragging on sentiment as miners and food producers struggled.

Analysts expect the game could sell 4.5 to 5 million copies globally on its first day. That would shatter the 3.6 million record currently held by Take Two Interactive Software's "Grand Theft Auto IV" — and it would mean revenues of $270 million to $300 million for Activision.

GameStop Inc. plans to hire about 15,000 seasonal, part-time workers to help with the holiday rush, the video game retailer said Tuesday, but expects more job applicants.

Unlike its predecessors, the new portable gaming system from Sony does not run on traditional packaged software. Any game or movie the user wants has to be downloaded — and that leaves retailers out of the loop on the most profitable part of any gaming system.

Stocks held onto gains Thursday after an encouraging report on manufacturing. Bank of America and JPMorgan led the Dow.

GameStop executives, who led the call for price reductions on the PlayStation 3 earlier this year, say they were a bit surprised with the timing of Sony’s actions earlier this week. But now that Sony has capitulated, they're expecting Microsoft and Nintendo to react.

Stocks held onto gains Thursday after an encouraging report on manufacturing. Bank of America and JPMorgan led the Dow.

Stocks held onto gains Thursday after an encouraging report on manufacturing. Bank of America and JPMorgan led the Dow.

Wall Street was posed for a higher open Thursday as global markets rallied and the bulls continue to stave off any appetite for a correction.

With video game sales already 12 percent behind last year's pace, video game publishers and retailers have been counting heavily on a strong holiday season to help turn things around. More and more, though, that's looking unlikely.

Best Buy has launched a trial program allowing video gamers to trade in their old titles for store credit.  The big box retailer is the latest in a string of companies that is exploring ways to tap into the growing used game market, which currently is valued at between $2 billion to $3 billion annually.