Markets Plummet Over Emerging Market Concerns

Emerging market concerns sent the markets plummeting to close sharply lower with the Dow plunging 149 points to 15,698. Nasdaq dropped 19 points to 4103. 

On the upside 

Solazyme (Nasdaq: SZYM) began commercial production of Tailored™ oil products at two Iowa facilities.

Fourth quarter earnings nearly doubled for Wynn Resorts (Nasdaq: WYNN) to surpass analyst expectations by a wide margin.

Boyd Gaming (NYSE: BYD) lowered its fourth quarter earnings outlook but the stock price rose.

On the downside

Concerns that Boehringer Ingelheim was making progress in developing a treatment for idiopathic pulmonary fibrosis to compete with InterMune’s (Nasdaq: ITMN) Esbriet weighed down shares of the biotechnology firm tumbling. 

Newmont Mining (NYSE: NEM) reported preliminary fourth quarter gold production results in line with estimates but the company forecast 2014 production levels below analyst expectations.

Grupo Financiero Santander Mexico (NYSE: BSMX) reported higher fourth quarter earnings but the results missed expectations.

In the broad market, declining issues outpaced advancers by a margin of 5 to 3 on the NYSE and by nearly 5 to 2 on Nasdaq. The broader S&P 500 dropped 11 points to 1782. Bitcoin slipped $7.60 or 0.81% to $935.39.

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