Markets plunge after Asian markets dropped

The markets plunged to close sharply lower with the Dow plummeting 162 points to 17,348 after Asian markets fell. Nasdaq dropped 40 points to 5,019.

On the upside

Southcross Energy Partners (NYSE: SXE) and Southcross Holdings secured a new $175 million equity commitment from Charlesbank Capital Partners, EIG Global Energy Partners and Tailwater Capital.

Rising gold prices lifted shares of Anglo Ashanti Gold (NYSE: AU) and Gold Fields (NYSE: GFI).

Photronics (Nasdaq: PLAB) reported sharply higher third quarter earnings that beat expectations as revenue rose.

On the downside

Profit taking sank shares of Cheetah Mobile (NYSE: CMCM).

Needham lifted its price target on SunEdison (NYSE: SUNE) from $30 to $31 but the stock price fell.

Falling crude oil prices weighed down share of Chesapeake Energy (NYSE: CHK).

In the broad market, declining issues outpaced advancers by a margin of nearly 3 to 1 on the NYSE and by more than 5 to 2 on Nasdaq. The broader S&P 500 tumbled 17 points to 2,079. Bitcoin plunged $26 to $222.