Crude oil prices dropped to send the markets down to a sharply lower close with the Dow plummeting 117 points to 17,730. Nasdaq tumbled 40 points to 5,101.
On the upside
Idera Pharmaceuticals (Nasdaq: IDRA) reported upbeat results from an ongoing Phase 1/2 trial of IMO-8400 to treat patients with Waldenstrom's Macroglobulinemia.
Sprint (NYSE: S) announced a five-day customer appreciation "Cheers to You" campaign.
Shares of Smith & Wesson (Nasdaq: SWHC) climbed as the latest mass shooting in California sparked discussions of more restrictive gun control measures.
On the downside
Falling crude oil prices weighed down shares of Stone Energy (NYSE: SGY).
Shares of Tronox (NYSE: TROX) extended its losses.
NGL Energy Partners (NYSE: NGL) stock continued to fall.
In the broad market, declining issues outpaced advancers by a margin of more than 4 to 1 on the NYSE and by nearly 7 to 2 on Nasdaq. The broader S&P 500 dropped 14 points to 2,077. Bitcoin held steady at $390.
