The markets turned negative during the midday with the Dow losing 24 points to 16,548 over concerns that the Federal Reserve would accelerate its tapering program. Nasdaq plunged 76 points to 4161.
On the upside
Shares of IMS Health Holdings (NYSE: IMS) soared in its market debut.
GrubHub (NYSE: GRUB) stock surged on its first trading day.
Shares of Five9 (Nasdaq: FIVN) climbed in its debut.
On the downside
Profit taking continued to weigh down Idera Pharmaceuticals (Nasdaq: IDRA).
CytRx (Nasdaq: CYTR) extended its losses.
Micron Technology (Nasdaq: MU) swung to a profit for the second quarter but the company warned that average selling prices would drop in the current quarter.
In the broad market, advancing issues outpaced decliners by a margin of nearly 3 to 2 on the NYSE while decliners edged out advancers by nearly 5 to 2 on Nasdaq. The broader S&P 500 lost 8 points to 1880. Bitcoin eased $1.81 or 0.40% to $443.94.
