As the budget stalemate continued without any indications of a resolution, the markets plummeted to close sharply lower with the Dow collapsing 136 points to 14,936. Nasdaq tumbled 37 points to 3770.
On the upside
Cardiome Pharma (Nasdaq: CRME) reported positive data from an observational, retrospective study of BRINAVESS to treat atrial fibrillation.
The Wall Street Transcript released an excerpt from an interview with InvenSense (NYSE: INVN) president and chief executive Behrooz Abdi.
Reuters reported that PHH (NYSE: PHH) may sell its mortgage business and its auto fleet leasing business.
On the downside
Wohl & Fruchter announced an investigation into Acorn Energy (Nasdaq: ACFN) for possible securities fraud.
Navistar International (NYSE: NAV) will offer $200 million of senior subordinated convertible notes through a private placement.
Profit taking sank shares of Liquidity Services (Nasdaq: LQDT).
In the broad market, declining issues outpaced advancers by a margin of 7 to 2 on the NYSE and by nearly 3 to 1 on Nasdaq. The broader S&P 500 dropped 14 points to 1676.