The negative impact of a strong dollar on corporate earnings along with concerns about a rate hike sent the markets into a free fall with the Dow collapsing 332 points to 17,662. Nasdaq crashed 82 points to 4,859.
On the upside
Speculation that Acadia Pharmaceuticals (Nasdaq: ACAD) may be acquired lifted shares of the biopharmaceutical.
Shares of Pinnacle Entertainment (NYSE: PNK) continued rising.
Quiksilver (NYSE: ZQK) shareholder Ryan Drexler made a second request that the company sell itself.
On the downside
Jefferies downgraded AcelRx Pharmaceuticals (Nasdaq: ACRX) from a Buy rating to a Hold rating and slashed its price target from $12 to $6.
Second quarter earnings slipped for IDT (NYSE: IDT) as revenue fell.
Barnes & Noble (NYSE: BKS) reported higher third quarter earnings but the results fell short of analyst expectations.
In the broad market, declining issues outpaced advancers by a margin of more than 5 to 2 on the NYSE and by more than 3 to 1 on Nasdaq. The broader S&P 500 plunged 35 points to 2044. Bitcoin added $4 to $292.
Strong dollar, rate concerns sink stocks
March 10, 2015 at 17:47 PM EDT
