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Byline: JONAH KERI
NYSE stocks sold off in higher volume Wednesday, marking a distribution day. The Dow and S&P 500 each dropped 1.5%. The small-cap S&P 600 shed 1.7%.
LeapFrog Enterprises plummeted 11.65, or 25%, to 34.89. A total of 15 million shares changed hands vs. its average daily volume of about 600,000.
After Tuesday's close, the maker of educational software posted third-quarter earnings of 55 cents a share, well below First Call's consensus estimate of 61 cents. Sales also missed guidance.
The stock, which broke out in mid-August, wiped out nearly its entire two-month advance in one day of trading.
Also imploding was …