Fears that the European economy may slip back into a recession sparked a sell-off with the Dow tanking 334 points to 16,659. Nasdaq collapsed 90 points to 4,378.
On the upside
Impax Laboratories (Nasdaq: IPXL) will pay approximately $700 million in cash to acquire Tower Holdings and Lineage Therapeutics.
Ruby Tuesday (NYSE: RT) swung to an unexpected profit for the first quarter.
MagneGas (Nasdaq: MNGA) joint venture partner FuturEnergy filed a patent on combusting coal emissions containing CO2 in a secondary post combustion chamber with MagneGas fuel.
On the downside
Shares of MOL Global (Nasdaq: MOL) plummeted on its first trading day.
E2open (Nasdaq: EOPN) forecast a wider than expected loss for the third quarter and full year.
Shares of Great Basin Scientific (Nasdaq: GBSN) tumbled in its market debut.
In the broad market, declining issues outpaced advancers by a margin of more than 7 to 1 on the NYSE and by 6 to 1 on Nasdaq. The broader S&P 500 plummeted 40 points to 1928. Bitcoin gained $20 to $370.