Markets Plunge On First Trading Day Of 2014

Slower than expected expansion of Chinese factory output sent the markets tumbling to a sharply lower close with the Dow plummeting 135 points to 16,441. Nasdaq dropped 33 points to 4143.

On the upside

Shares of Kandi Technologies Group (Nasdaq: KNDI) continued rising.

Canadian Solar (Nasdaq: CSIQ) completed the sale of its Mississippi Mills 10 megawatt AC solar power plant to TransCanada (NYSE: TRP).

The Israel and Australian Patent Offices granted a patent allowance to Oramed Pharmaceuticals (Nasdaq: ORMP) for its technology for the oral delivery of drugs and vaccines.

On the downside

Cohen, Placitella & Roth initiated an investigation into Angie's List (Nasdaq: ANGI) for possible securities fraud while Bernstein Liebhard filed a class action lawsuit against the company for securities violations.

A drop in crude oil prices weighed down shares of Comstock Resources (NYSE: CRK), Goodrich Petroleum (NYSE: GDP) and Kodiak Oil & Gas (NYSE: KOG).

FireEye (Nasdaq: FEYE) acquired rival cybersecurity firm Mandiant for approximately $1 billion in cash and stock.

In the broad market, declining issues outpaced advancers by a margin of nearly 2 to 1 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 tumbled 16 points to 1831. Bitcoin gained $67.11 or 7.74% to $867.11.

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