Markets extend losses

The markets extended yesterday's steep losses by opening sharply lower with the Dow plunging 168 points to 16,822. Nasdaq plummeted 51 points to 4,826.

On the upside

Advanced Semiconductor Engineering (NYSE: ASX) will commence tender offers for Siliconware Precision Industries (Nasdaq: SPIL) beginning on Monday, August 24.

Bargain hunters lifted shares of Macrocure (Nasdaq: MCUR).

Brocade (Nasdaq: BRCD) reported higher third quarter earnings that beat expectations as revenue rose.

On the downside

Tuesday Morning (Nasdaq: TUES) reported a greater than expected loss for the fourth quarter.

Second quarter earnings and revenue fell short of expectations for The Fresh Market (Nasdaq: TFM) and the grocery retailer forecast full year results below estimates.

Intuit (Nasdaq: INTU) swung to a profit for the fourth quarter but the company forecast a loss for the current quarter.

In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 2 on both the NYSE and on Nasdaq. The broader S&P 500 dropped 18 points to 2,017. Bitcoin slipped $4 to $230.