Markets Plunge Over Economic Concerns

The markets plunged to close sharply lower with the Dow collapsing 266 points to 16,170 despite a drop in jobless claims as investors locked in profits. Nasdaq plummeted 129 points to 4054.

On the upside

Ruby Tuesday (NYSE: RT) reported a loss for the third quarter but the results were better than expected.

First quarter earnings slipped for iGate (Nasdaq: IGTE) but the results were better than expected as revenue rose.

Titan Machinery (Nasdaq: TITN) fell to a loss for the fourth quarter but the results beat analyst expectations.

On the downside

Motley Fool warned investors against buying FireEye (Nasdaq: FEYE).

Shares of Adamas Pharmaceuticals (Nasdaq: ADMS) tumbled on its first trading day.

Motley Fool wrote that start-up Form Labs was selling high-end 3-D printers for a fraction of the cost that 3D Systems (NYSE: DDD) was charging.

In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 2 on the NYSE and by nearly 7 to 1 on Nasdaq. The broader S&P 500 plummeted 39 points to 1833. Bitcoin dropped $57.84 or 13.18% to $380.95.

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