Geopolitical concerns weighed the markets down to a sharply lower close with the Dow plunging 148 points to 24,163. Nasdaq tumbled 53 points to 7066.

On the upside

United Therapeutics (Nasdaq: UTHR) will acquire SteadyMed (Nasdaq: FDC) in a deal valued at approximately $216 million.

Financial Engines (Nasdaq: FNGN) will be acquired by private equity firm Hellman & Friedman in a deal valued at approximately $3.02 billion.

Prologis (NYSE: PLD) will acquire DCT Industrial Trust (NYSE: DCT) in an all stock transaction valued at approximately $8.4 billion.

On the downside

Fred's (Nasdaq: FRED) chief executive Michael Bloom resigned.

Karyopharm (Nasdaq: KPTI) reported positive results from a Phase 2b STORM study of selinexor but the stock price tumbled.

First quarter revenue for First Solar (Nasdaq: FSLR) tumbled.

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 3 on the NYSE and by 2 to 1 on Nasdaq. The broader S&P 500 lost 21 points to 2,648. Bitcoin slipped $18 to $9,304.