The Institute for Supply Management’s January manufacturing index dropped more than expected to send the markets tumbling during the midday with the Dow collapsing 266 points to 15,432. Nasdaq plummeted 107 points to 3996.
On the upside
BioTelemetry (Nasdaq: BEAT) acquired MedNet Healthcare Technologies as part of a consent judgment in its patent suit against Mednet.
Wall St. Cheat Sheet expects WPCS International (Nasdaq: WPCS) to climb after it launches its Bitcoin BTX Trader platform.
Smith & Nephew will pay a premium of approximately $1.5 billion in cash to acquire ArthroCare (Nasdaq: ARTC).
On the downside
TheStreet questioned the safety claims made by Oramed Pharmaceuticals (Nasdaq: ORMP) for its ORMD-0801 insulin pill.
Atlantic Power (NYSE: AT) launched the syndication of new senior credit facilities.
Shares of Genco Shipping (NYSE: GNK) continued falling over solvency concerns.
In the broad market, declining issues outpaced advancers by a margin of nearly 6 to 1 on the NYSE and by nearly 7 to 1 on Nasdaq. The broader S&P 500 plunged 36 points to 1746. Bitcoin edged up $5.50 or 0.59% to $935.08.
