Concerns that the Federal Reserve will increase interest rates next month sent the markets plunging to a sharply lower close with the Dow sinking 179 points to 17,730. Nasdaq plummeted 51 points to 5,095.
On the upside
Isis Pharmaceuticals (Nasdaq: ISIS) reported positive results from a Phase 2 clinical trial of ISIS-APO(a).
Cytokinetics (Nasdaq: CYTK) presented data from a Phase 2 COSMIC-HF trial of omecamtiv mecarbil to treat patients with chronic heart failure.
Bloomberg reported that Canadian Pacific Railway was exploring the possible acquisition of Norfolk Southern (NYSE: NSC).
On the downside
Shares of Aegerion Pharmaceuticals (Nasdaq: AEGR) fell ahead of its earnings release after market close.
Shares of LSB Industries (NYSE: LXU) extended its losses.
In the broad market, declining issues outpaced advancers by a margin of more than 4 to 1 on the NYSE and by nearly 7 to 3 on Nasdaq. The broader S&P 500 tumbled 20 points to 2,078. Bitcoin rose $6 to $373.