World Bank cuts growth outlook, markets plunge

The markets extended its losses during the midday with the Dow plummeting 293 points to 17,319 as the World Bank cut its global growth outlook for 2015. Nasdaq plunged 47 points to 4,613.

On the upside

The Food and Drug Administration approved EnteroMedics' (Nasdaq: ETRM) VBLOC vagal blocking therapy for obesity.

Janney Capital upgraded Bebe (Nasdaq: BEBE) from a Neutral rating to a Buy rating.

A federal court threw out Diablo Technologies' countersuit against Netlist (Nasdaq: NLST) and ordered Diablo to pay the attorney's fees for Netlist.

On the downside

Datawatch (Nasdaq: DWCH) warned of lower revenue and a wider loss for the first quarter.

Pioneer Energy Services (NYSE: PES) warned that an additional ten rigs would go idle in the first quarter and that early termination notices were received for another seven rigs.

FXCM (NYSE: FXCM) lowered its fourth quarter revenue outlook.

In the broad market, declining issues outpaced advancers by a margin of nearly 3 to 1 on the NYSE and by more than 5 to 2 on Nasdaq. The broader S&P 500 plunged 27 points to 1995. Bitcoin tumbled $44 to $175.
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