Markets reverse course

The markets reversed course during the midday with the Dow plummeting 190 points to 17,309 as crude oil prices continued to sink. Nasdaq plunged 69 points to 4,583.

On the upside

Bullish comments about Frontline (Nasdaq: FRO) on CNBC's Fast Money last night lifted shares of the oil tanker.

Rising gold prices lifted shares of Kinross Gold (NYSE: KGC), Harmony Gold (NYSE: HMY) and Yamana Gold (NYSE: AUY).

Rising iron ore prices and soaring exports from Brazil lifted shares of Gerdau (NYSE: GGB).

On the downside

Fall crude oil prices weighed down shares of Energy XXI (Nasdaq: EXXI) and Laredo Petroleum (NYSE: LPI).

hhgregg (NYSE: HGG) warned of lower third quarter revenue.

Shares of Intercept Pharmaceuticals (Nasdaq: ICPT), which develops treatments for chronic liver diseases, plunged on news that Gilead (Nasdaq: GILD) was buying a liver disease treatment from Phenex Pharmaceuticals.

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 2 on the NYSE and by more than 4 to 1 on Nasdaq. The broader S&P 500 plunged 22 points to 1998. Bitcoin added $4 to $278.