Debt Ceiling Concerns Sink Stocks

Debt ceiling concerns sent the markets tumbling during the midday with the Dow plummeting 104 points to 14,967. Nasdaq dropped 28 points to 3779.

On the upside

Lazard Capital analyst Joshua Schimmer affirmed his Buy rating on GW Pharmaceuticals (Nasdaq: GWPH) and nearly tripled his price target from $22 to $65.

Shares of National Bank of Greece (NYSE: NBG) climbed after noted that hedge funds have been accumulating shares of Greek banks.

Yingli Green Energy (NYSE: YGE) extended its gains.

On the downside

Shares of Forest Oil (NYSE: FST) continued falling after analysts criticized the sale price of assets as too low.

Investors locked in profits on Deckers Outdoor (Nasdaq: DECK).

Redwood Trust (NYSE: RWT) stock continued falling after a downgrade last week.

In the broad market, declining issues outpaced advancers by a margin of 5 to 2 on the NYSE and by 2 to 1 on Nasdaq. The broader S&P 500 fell 10 points to 1680.

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