The nation's budget deficit swelled to a record $222.5 billion in February sending the markets tumbling to a sharply lower close with the Dow skidding 228 points to 11,984. Nasdaq plummeted 50 points to 2701.
On the upside
Nikkei Business Daily reported that Japanese firm Tomy will pay approximately $604 million to acquire toy maker RC2 (Nasdaq: RCRC).
Pentwater Capital Management plans to nominate three candidates to the Board of Directors of Leap Wireless (Nasdaq: LEAP).
Semtech (Nasdaq: SMTC) reported sharply higher fourth quarter earnings that more than doubled to beat analyst expectations as revenue climbed.
On the downside
