Markets plunge as crude oil prices continue slide

Crude oil prices continued to fall which sent the markets tumbling to a sharply lower open with the Dow plummeting 171 points to 17,661. Nasdaq dropped 32 points to 4,693.

On the upside

Conatus Pharmaceuticals (Nasdaq: CNAT) will report results from three organ impairment clinical trials after market close on Thursday, January 8.

Cempra (Nasdaq: CEMP) reported positive results from a late stage trial of its antibiotic solithromycin.

The Food and Drug Administration granted Stereotaxis (Nasdaq: STXS) 510(k) clearance for its Vdrive(R) with V-CAS(TM) Catheter Advancement System.

On the downside

Brainstorm Cell Therapeutics (Nasdaq: BCLI) reported positive results from a Phase 2a clinical trial of its amyotrophic lateral sclerosis treatment NurOwn but the stock price surged last week in anticipation of the results.

Shares of Petrobras (NYSE: PBR) fell as crude oil prices continued to tumble.

Falling crude oil prices weighed down shares of offshore drilling services provider SeaDrill (NYSE: SDRL).

In the broad market, declining issues outpaced advancers by a margin of more than 3 to 1 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 plunged 24 to 2033. Bitcoin gained $13 to $274.