Rate hike fears send markets tumbling

A drop in the nation’s unemployment rate sparked concerns of an interest rate increase. The markets opened sharply lower with the Dow plummeting 252 points to 16,122. Nasdaq tumbled 38 points to 4,695.

On the upside

Bargain hunters lifted shares of Ariad Pharmaceuticals (Nasdaq: ARIA).
 
BlackBerry (Nasdaq: BBRY) will pay approximately $425 million in cash to acquire Good Technology.

On the downside

Vince (NYSE: VNCE) fell to a greater than expected loss for the second quarter prompting the company to lower its full year guidance.
 
UTi Worldwide (Nasdaq: UTIW) widened losses as revenue fell.

Shares of Arch Coal (NYSE: ACI) continued falling.

Infoblox (NYSE: BLOX) reported a loss for the fourth quarter and forecast current quarter earnings below expectations.

In the broad market, advancing issues outpaced decliners by a margin of more than 7 to 1 on the NYSE and by nearly 7 to 2 on Nasdaq. The broader S&P 500 plunged 24 points to 1,926. Bitcoin added $1 to $227.

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