Economic concerns send markets tumbling

Concerns about the economy sent the markets tumbling to a sharply lower close with the Dow plunging 115 points to 18,010. Nasdaq dropped 27 points to 5,070.

On the upside

Jiayuan.com International (Nasdaq: DATE) received a non-binding offer to take the company private from Vast Profit Holdings Ltd.

Bloomberg reported that Cigna (NYSE: CI) was exploring the possibility of buying Humana (NYSE: HUM).

UBS analyst Andrew Peters initiated coverage of Prothena (Nasdaq: PRTA) with a Buy rating and established a $58 price target.

On the downside

Investors locked in profits on Cellectis (Nasdaq: CLLS).

Frontline (NYSE: FRO) swung to a profit for the first quarter but revenue fell.

Bristol-Myers Squibb (NYSE: BMY) reported mixed interim data from a Phase I/II trial of Opdivo in advanced liver cancer patients.

In the broad market, declining issues outpaced advancers by a margin of more than 2 to 1 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 dropped 13 points to 2107. Bitcoin slipped $1 to $236.
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