Crude oil prices continued to drop sending the markets tumbling to a sharply lower open with the Dow plunging 113 points to 17,483. Nasdaq lost 10 points to 4,697.
On the upside
ChemoCentryx (Nasdaq: CCXI) reported positive results from a Phase II clinical trial in diabetic nephropathy with CCX140.
Repsol engaged in negotiations to acquire Talisman Energy (NYSE: TLM).
Adobe Systems (Nasdaq: ADBE) reported higher third quarter earnings and revenue that topped analyst estimates and announced plans to buy privately held Fotolia.
On the downside
The Wall Street Journal reported that Caesars Entertainment (Nasdaq: CZR) reached a tentative debt restructuring agreement with senior bond holders for its Caesars Entertainment Operating unit.
Conn's (Nasdaq: CONN) extended its losses.
Windstream Holdings (Nasdaq: WIN) named Tony Thomas to the position of chief executive officer.
In the broad market, declining issues outpaced advancers by a margin of more than 4 to 1 on the NYSE and by nearly 5 to 2 on Nasdaq. The broader S&P 500 lost 7 points to 2028. Bitcoin rose $5 to $350.
Markets tumble as crude continues slide
December 12, 2014 at 09:43 AM EST