Service Sector Expansion Falls, Markets Plunge

Expansion of the nation's service sector dropped in September to send the markets tumbling during the midday with the Dow plunging 177 points to 14,955. Nasdaq plummeted 58 points to 3756.

On the upside

Omeros (Nasdaq: OMER) settled a suit against its insurer.

CalAmp (Nasdaq: CAMP) reported lower second quarter earnings but the results were better than expected.

Fitch Ratings affirmed Tenet Healthcare's (NYSE: THC) acquisition of Vanguard Health.


On the downside


TheStreet said that Celldex (NYSE: CLDX) was part of a biotech bubble.

Bill Ackman's Pershing Square has covered more than 8 million shares of his short position on Herbalife (NYSE: HLF).

TASER (Nasdaq: TASR) lowered prices for its AXON flex cameras and EVIDENCE.com services.

In the broad market, declining issues outpaced advancers by a margin of more than 7 to 1 on the NYSE and by more than 2 to 1 on Nasdaq. The broader S&P 500 plunged 21 points to 1672.

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