Fed will continue increasing rates

The Federal Reserve's indication that it would continue to gradually raise interest rates despite a slowing economy sent the markets tumbling to close sharply lower with the Dow collapsing 222 points to 15,944. Nasdaq crashed 99 points to 4,468.


On the upside


Bargain hunters lifted shares of Amedica (Nasdaq: AMDA).


C&J Energy Services (NYSE: CJES) will release its fourth quarter earnings after market close on Monday, February 22.


JP Morgan upgraded Terex (NYSE: TEX) from an Underweight rating to a Neutral rating.


On the downside


The Federal Trade Commission sued DeVry Education Group (NYSE: DV) for deceiving students about job prospects after graduation.


Ladenburg Thalmann downgraded Bill Barrett (NYSE: BBC) from a Buy rating to a Neutral rating.


Fourth quarter earnings and revenue for Textron (NYSE: TXT) fell short of expectations and the company forecast 2016 earnings below estimates.


In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 3 on the NYSE and by nearly 5 to 2 on Nasdaq. The broader S&P 500 plunged 20 points to 1,882. Bitcoin held steady at $395.

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