The markets opened sharply lower with the Dow plunging 122 points to 16,044 as crude oil prices fell. Nasdaq plummeted 49 points to 4,518.
On the upside
Fate Therapeutics (Nasdaq: FATE) received clearance from the Food and Drug Administration for its new drug application for ProTmune and will begin a Phase 1/2 clinical trial.
Hawaiian Holdings (Nasdaq: HA) reported sharply higher fourth quarter earnings.
Capnia (Nasdaq: CAPN) entered an exclusive agreement with Bemes to market and distribute CoSense End-Tidal Carbon Monoxide (ETCO) Monitor and Precision Sampling Sets (PSS).
On the downside
United States Steel (NYSE: X) fell to a loss for the fourth quarter as revenue tumbled.
Fourth quarter earnings plunged for Santander Consumer USA Holdings (NYSE: SC) to fall far short of analyst expectations.
Boeing (NYSE: BA) reported lower fourth quarter earnings and revenue and forecast 2016 earnings that fell short of analyst estimates.
In the broad market, declining issues outpaced advancers by a margin of more than 5 to 3 on the NYSE and by nearly 7 to 3 on Nasdaq. The broader S&P 500 dropped 10 points to 1,892. Bitcoin slipped $1 to $395.
