The markets closed sharply lower with the Dow plummeting 177 points to 26,439 as the nation's savings and savings rate both tumbled to their lowest levels in more than a decade. Nasdaq dropped 39 points to 7466.
On the upside
Immersion (Nasdaq: IMMR) entered settlement and license agreements with Apple (Nasdaq: AAPL).
Ballard Power Systems (Nasdaq: BLDP) expects to report record revenue of approximately $120 million for fiscal 2017.
Seaport Global Securities upgraded Matson (NYSE: MATX) from a Neutral rating to a Buy rating.
On the downside
VMware (NYSE: VMW) is reportedly exploring the possibility of acquiring Dell Technologies (NYSE: DVMT) in a reverse merger.
Sohu.com (Nasdaq: SOHU) widened losses for the fourth quarter.
Alder Biopharmaceuticals (Nasdaq: ALDR) will offer $200 million in convertible senior notes.
In the broad market, declining issues outpaced advancers by a margin of 9 to 2 on the NYSE and by nearly 7 to 3 on Nasdaq. The broader S&P 500 tumbled 19 points to 2,853. Bitcoin crashed $506 to $11,205.