The nation's factory output unexpectedly dropped in May to weigh the markets down to a lower open with the Dow falling 74 points to 21,299. Nasdaq plummeted 71 points to 6,123.
On the upside
DDR (NYSE: DDR) and Madison International Realty recapitalized a joint venture.
Hilton Grand Vacations (NYSE: HGV) priced its secondary offering of 9.65 million common shares.
Bargain hunters lifted shares of McEwen Mining (NYSE: MUX).
On the downside
Kroger (NYSE: KR) reported sharply lower first quarter earnings prompting the grocery store chain to slash its full year earnings outlook.
Mattel (Nasdaq: MAT) will cut its dividend in order to finance its strategic growth plan.
Alibaba (NYSE: BABA) may partner with SoftBank to jointly invest $1.5 billion in Singaporean ride-hailing startup Grab.
In the broad market, declining issues outpaced advancers by a margin of nearly 3 to 1 on the NYSE and by nearly 7 to 3 on Nasdaq. The broader S&P 500 dropped 16 points to 2,421. Bitcoin plunged $186 to $2276.
