Wall Street Roundup: Heading back down. Trading in nanoseconds.

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Gold: Trading now at $1,532 per ounce, up 0.5% from Tuesday. Dow Jones industrial average: Trading now at 11986.04, down 0.8% from Tuesday.

Heading back down. After a good day on the stock markets, share prices are heading back down Wednesday morning due to a bad report on manufacturing from the New York Federal Reserve.

One bright spot. Pandora, the Internet radio company, is the latest tech company with no profits to speak of that has seen its share prices soar on the first day of trading -- Wednesday morning they have gone as high as $26, up from the $16 offering price Tuesday.

Check mate. One man has made hundreds of millions of dollars from his patent on check-processing technology -- now banks are fighting to stop his monopoly.

Trading in nanoseconds. In the ongoing arms race among high-frequency traders, a London firm announced that it had an application could make stock trades in billionths of a second.

-- Nathaniel Popper