Concerns that interest rates may rise sent the markets tumbling to a sharply lower close with the Dow collapsing 272 points to 16,102. Nasdaq plunged 49 points to 4,683.
On the upside
Shares of KaloBios Pharmaceuticals (Nasdaq: KBIO) continued soaring.
On the downside
Lower crude oil prices weighed down shares of Freeport-McMoRan (NYSE: FCX).
Shares of Netflix (Nasdaq: NFLX) extended its losses.
Petrobras (NYSE: PBR) will eliminate chauffeured cars, office parties and overseas training programs in an effort to save $12 billion.
General Electric (NYSE: GE) received several bids for its Japanese finance unit from Japanese banks but the stock price fell.
Shares of OncoGenex Pharmaceuticals (Nasdaq: OGXI) fell again.
In the broad market, declining issues outpaced advancers by a margin of more than 3 to 1 on the NYSE and by 5 to 3 on Nasdaq. The broader S&P 500 plunged 29 points to 1,921. Bitcoin rose $2 to $228.
Markets plunge over possible rate increase
September 04, 2015 at 19:12 PM EDT