The markets mounted a recovery in afternoon trading with the Dow paring its losses to close down 249 points to 15,766 as crude oil settled below $27 per barrel for the first time in nearly 13 years. Nasdaq slipped 5 points to 4,471.
On the upside
Bloomberg reported that Synaptics (Nasdaq: SYNA) was close to finalizing a deal with a Chinese investment group that values the company at approximately $4 billion.
Encore Capital Group (Nasdaq: ECPG) chief compliance officer Doris Hektor addressed the faculty for Consero's 2015 Corporate Compliance & Ethics Fourm.
Bargain hunters lifted shares of Comstock Resources (NYSE: CRK).
On the downside
Shares of Sprint (NYSE: S) continued to fall.
Stone Energy (NYSE: NFLX) stock fell again from CapitalOne's downgrade yesterday.
NovoCure (Nasdaq: NVCR) will present data from an ongoing Phase 2 PANOVA clinical trial at the American Society of Clinical Oncology 2016 Gastrointestinal Cancers Symposium on Friday, January 22.
In the broad market, declining issues outpaced advancers by a margin of more than 5 to 2 on the NYSE and by more than 10 to 9 on Nasdaq. The broader S&P 500 plunged 22 points to 1,859. Bitcoin surged $27 to $408.