Markets tumble over concerns about China

The markets opened sharply lower with the Dow plummeting 141 points to 17,371 over concerns about the Chinese economy. Nasdaq fell 29 points to 5,030.

On the upside

Seagate (Nasdaq: STX) will pay a premium of approximately $694 million in cash to acquire Dot Hill Systems (Nasdaq: HILL) .

The Food and Drug Administration granted Fast Track designation to Corbus Pharmaceuticals' (Nasdaq: CRBP) Resunab to treat systemic sclerosis.

Target (NYSE: TGT) reported higher second quarter earnings that surpassed expectations and lifted its full year earnings outlook.

On the downside

Canadian Solar (Nasdaq: CSIQ) reported sharply lower second quarter earnings and forecast current quarter and full year revenue below expectations.

The Greek government cited violations for the cessation of activity at Eldorado Gold's (NYSE: EGO) northern Greek mine.

American Eagle Outfitters (NYSE: AEO) reported sharply higher second quarter earnings that beat analyst expectations but the stock price fell.

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 1 on the NYSE and by nearly 4 to 1 on Nasdaq. The broader S&P 500 tumbled 13 points to 2,083. Bitcoin fell $7 to $248.
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