The markets opened sharply lower with the Dow plummeting 122 points to 18,109 as crude oil prices continued to fall. Nasdaq tumbled 43 points to 5,046.
On the upside
Prima BioMed (Nasdaq: PBMD) reported positive data from a Phase II CAN-003 ovarian cancer clinical trial.
The Food and Drug Administration granted Fast Track designation to IntelliPharmaCeutics International's (Nasdaq: IPCI) abuse deterrent Rexista Oxycodone extended-release tablets.
McDermott International (NYSE: MDR) won a brownfield contract from Saudi Aramco.
On the downside
Investors locked in profits on Youku Tudou (NYSE: YOKU).
RBC Capital downgraded First Solar (Nasdaq: FSLR) from a Sector Perform to an Underperform rating.
Retreating gold prices weighed down shares of Barrick Gold (NYSE: ABX) and Kinross Gold (NYSE: KGC).
In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 2 on the NYSE and by nearly 5 to 2 on Nasdaq. The broader S&P 500 dropped 14 points to 2112. Bitcoin added $1 to $237.
Markets tumble as crude oil continues falling
May 26, 2015 at 10:44 AM EDT
