The Department of Justice's proposed $14 billion fine against Deutsche Bank weighed the markets down to a sharply lower open with the Dow plunging 102 points to 18,109. Nasdaq tumbled 20 points to 5,229.
On the upside
Reuters reported that DepoMed (Nasdaq: DEPO) was working with Morgan Stanley to sell itself.
Aerie Pharmaceuticals (Nasdaq: AERI) raised approximately $125 million through several public offerings.
Avis Budget Group (Nasdaq: CAR) will replace Questar (NYSE: STR), which will be acquired by Dominion Resources (NYSE: D), in the S&P MidCap 400 after market close on Friday, September 16, 2016.
On the downside
Novavax (Nasdaq: NVAX) reported disappointing results from a Phase 3 clinical trial of RSV-F to treat lower respiratory tract disease prompting downgrades.
Seeking Alpha wrote that a bill proposed in the British Parliament will give the National Health Service power to control Concordia International's (Nasdaq: CXRX) drug prices.
The Justice Department proposed a fine of $14 billion for Deutsche Bank (NYSE: DB) related to residential mortgage securities that were underwritten from 2005-2007.
In the broad market, declining issues outpaced advancers by a margin of 7 to 2 on the NYSE and by nearly 2 to 1 on Nasdaq. The broader S&P 500 dropped 14 points to 2,132. Bitcoin held steady at $608.
