A drop in crude oil prices sent the markets tumbling during the midday with the Dow plunging 154 points to 16,845. Nasdaq plummeted 54 points to 4,620.
On the upside
Christopher & Banks (NYSE: CBK) fell to a loss for the fourth quarter and the company announced changes to its Board of Directors.
Pacific Ethanol (Nasdaq: PEIX) reported a smaller than expected loss for the fourth quarter as revenue climbed.
The Wall Street Journal reported that Columbia Pipeline Group (NYSE: CPGX) may be acquired by TransCanada (NYSE: TRP).
On the downside
Concerns rose that Linn Energy (Nasdaq: LINE) may file for bankruptcy protection.
Profit taking weighed down shares of Energy XXI (Nasdaq: EXXI).
Shares of BP Prudhoe Bay Royalty Trust (NYSE: BPT) extended its losses.
In the broad market, declining issues outpaced advancers by a margin of nearly 2 to 1 on the NYSE and by more than 2 to 1 on Nasdaq. The broader S&P 500 tumbled 16 points to 1,972. Bitcoin added $2 to $415.
