The Asian Development Bank cut its growth forecast for China sending the markets tumbling to a sharply lower open with the Dow crashing 227 points to 16,282. Nasdaq plummeted 77 points to 4,751.
On the upside
Weatherford International (NYSE: WFT) cancelled its previously announced stock and notes offering.
Shares of Vascular Biogenics (Nasdaq: VBLT) soared again ahead of its presentation at the European Society for Medical Oncology's European Cancer Congress 2015.
On the downside
Investors locked in profits on WaferGen Bio-systems (Nasdaq: WGBS).
Shares of Freeport-McMoRan (NYSE: FCX) fell for a third consecutive session on its plans to offer an additional $1 billion in stock.
Falling commodities prices weighed down shares of Teck Resources (NYSE: TCK).
Petrobras (NYSE: PBR) will sell a 49% stake in a natural gas distribution holding company.
In the broad market, declining issues outpaced advancers by a margin of more than 4 to 1 on the NYSE and by nearly 7 to 2 on Nasdaq. The broader S&P 500 plunged 26 points to 1,940. Bitcoin added $2 to $229.
Markets plunge as China growth forecast cut
September 22, 2015 at 10:42 AM EDT
