Jobless claims fell last week but the markets tumbled at the open with the Dow plummeting 202 points to 15,712 as crude oil prices slipped below $27. Nasdaq dropped 31 points to 4,252.
On the upside
TripAdvisor (Nasdaq: TRIP) reported better than expected fourth quarter earnings and revenue.
Kinross Gold (NYSE: KGC) narrowed fourth quarter losses and forecast record production for 2016.
Tesla (Nasdaq: TSLA) widened losses for the fourth quarter but the electric vehicle maker forecast strong 2016 sales .
On the downside
Zynga (Nasdaq: ZNGA) widened losses for the fourth quarter and forecast current quarter revenue below estimates.
Incyte (Nasdaq: INCY) discontinued a Phase 3 study of ruxolitinib combined with capecitabine to treat advanced or metatastic pancreatic cancer.
Flower Foods (NYSE: FLO) reported lower fourth quarter earnings and revenue that fell short of expectations prompting a downgrade.
In the broad market, declining issues outpaced advancers by a margin of nearly 4 to 1 on the NYSE and by a nearly 3 to 1 on Nasdaq. The broader S&P 500 plunged 21 points to 1,830. Bitcoin slipped $1 to $380.