Markets plummet over global economic concerns

The markets reversed course to tumble to a sharply lower close with the Dow collapsing 223 points to 16,321 over global economic concerns. Nasdaq plummeted 62 points to 4,213.

On the upside

Canadian health officials will begin testing an Ebola vaccine that is licensed to Newlink Genetics (Nasdaq: NLNK).

J.P. Morgan downgraded Cliffs Natural Resources (NYSE: CLF) from an Overweight rating to a neutral rating and slashed its price target from $13 to $5 but the stock price climbed.

Shares of medical waste container maker Sharps Compliance (Nasdaq: SMED) climbed after a nurse who treated Dallas Ebola patient Thomas E. Duncan was diagnosed with Ebola.

On the downside

Falling crude oil prices weighed down shares of Callon Petroleum (NYSE: CPE), Goodrich Petroleum (NYSE: GDP), Penn Virginia (NYSE: PVA) and Rex Energy (Nasdaq: REXX).

ALCO Stores (Nasdaq: ALCS) filed for Chapter 11 bankruptcy protection.

Wunderlich Securities analyst Jason A. Wangler lowered his price target on Basic Energy Services (NYSE: BAS).

In the broad market, declining issues outpaced advancers by a margin of more than 2 to 1 on the NYSE and by more than 9 to 7 on Nasdaq. The broader S&P 500 plunged 31 points to 1874. Bitcoin rose $9 to $385.
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