A drop in commodities prices sent the markets tumbling to a lower close with the Dow falling 79 points to 17,502. Nasdaq plunged 52 points to 4,768.
On the upside
Washington D.C. regulators approved Exelon's (NYSE: EXC) proposed $6.8 billion acquisition of Pepco Holdings (NYSE: POM).
Bargain hunters lifted shares of BP Prudhoe Bay Royalty Trust (NYSE: BPT).
Shares of Valeant Pharmaceuticals (NYSE: VRX) climbed again.
On the downside
Falling crude oil prices weighed down shares of Chesapeake Energy (NYSE: CHK) and Oasis Petroleum (NYSE: OAS).
Shares of Teck Resources (NYSE: TCK) dropped as copper prices fell.
The Food and Drug Administration extended the Prescription Drug User Fee Act action date for Insys Therapeutics' (Nasdaq: INSY) Syndros by three months to July 1, 2016.
In the broad market, declining issues outpaced advancers by a margin of nearly 3 to 1 on the NYSE by nearly 4 to 1 on Nasdaq. The broader S&P 500 dropped 13 points to 2,036. Bitcoin added $2 to $417.
