Slump in technology weighs down stocks

Technology stocks slumped to send the markets tumbling to a lower close with the Dow plunging 177 points to 16,027. Nasdaq plummeted 79  points to 4,283.

On the upside

Engaged Capital has acquired a 14% stake in Outerwall (Nasdaq: OUTR).

Zacks Equity Research suggested that investors sell Crocs (Nasdaq: CROX) but the stock price rose.

Aurinia Pharmaceuticals (Nasdaq: AUPH) reported upbeat preliminary results from its AURION study.

On the downside

Robert W. Baird downgraded EnLink Midstream (NYSE: ENLC) from an Outperform rating to an Underperform rating.

Shares of Facebook (Nasdaq: FB) fell after the Telecom Regulatory Authority of India introduced new rules prohibiting differential pricing for Internet access.

Retreating crude oil prices weighed down shares of Denbury Resources (NYSE: DNR).

In the broad market, declining issues outpaced advancers by a margin of nearly 4 to 1 on the NYSE and by nearly 5 to 2 on Nasdaq. The broader S&P 500 plunged 26 points to 1,853. Bitcoin slipped $2 to $374.

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