Steep losses plagued the markets with the Dow collapsing 588 points to 15,871 in the wake of the Asian market crash. Nasdaq slumped 179 points to 4,526.
On the upside
Caesars Entertainment (Nasdaq: CZR) entered a restructuring agreement with its creditors.
The Independent Data Monitoring Committee recommended that Galena Biopharma (Nasdaq: GALE) lower the cardiac toxicity monitoring for patients in its NeuVax(TM) Phase 3 PRESENT clinical trial.
On the downside
Shares of Chinese social media platform Weibo (Nasdaq: WB) plunged even as millions of users posted or liked comments about the stock market crash.
Keefe, Bruyette & Woods upgraded Bank of America (NYSE: BA) from a Market Perform rating to an Outperform rating but the stock price fell along with the rest of the market.
Crude oil prices settled below $39 per barrel for the first time in more than sixteen years sending shares of Exxon Mobil (NYSE: XOM) tumbling.
Netflix (NYSE: NFLX) partnered with SoftBank to pre-install the Netflix app on Softbank smartphones after October but the stock price plummeted.
In the broad market, declining issues outpaced advancers by a margin of 19 to 1 on the NYSE and by nearly 10 to 1 on Nasdaq. The broader S&P 500 crashed 77 points to 1,920. Bitcoin tumbled $12 to $212.
Global markets crash
August 24, 2015 at 18:26 PM EDT