Slowdown Of Stimulus Sends Stocks Stumbling

The Federal Reserve's announcement that economic stimulus measures would decrease later this year sent the markets tumbling to a sharply lower open with the Dow sinking 235 points to 14,876. Nasdaq plunged 48 points to 3395.

On the upside

Finisar (Nasdaq: FNSR) reported lower fourth quarter earnings but the results were better than expected and the fiber optics company forecast current quarter results ahead of estimates.

Celsion's (Nasdaq: CLSN) Phase III HEAT Study results were reviewed at the 2013 European Conference on Interventional Oncology.

Tesla Motors (Nasdaq: TSLA) continued rising after voluntarily recalling 1,228 Model S electric vehicles due to a rear seat mounting bracket defect.


On the downside


Ebix (Nasdaq: EBIX) and Goldman Sachs (NYSE: GS) cited a federal investigation into allegations of misconduct by Ebix for terminating a merger agreement between the two companies.


FuelCell Energy (Nasdaq: FCEL) priced its offering of senior convertible notes.


Progenics Pharmceuticals (Nasdaq: PGNX) priced its public offering of 8.5 million common shares at the discounted price of $4.40 per share.

In the broad market, declining issues outpaced advancers by a margin of more than 13 to 1 on the NYSE and by nearly 6 to 1 on Nasdaq. The broader S&P 500 index plummeted 25 points to 1603.

Stock Market XML and JSON Data API provided by FinancialContent Services, Inc.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
Press Release Service provided by PRConnect.
Stock quotes supplied by Six Financial
Postage Rates Bots go here