Markets drop over rate concerns

Concerns about an interest rate increase sent the markets down to a lower close with the Dow plummeting 128 points to 17,849. Nasdaq rose 7 points to 4,937.

On the upside

Qunar Cayman Islands (Nasdaq: QUNR) widened losses for the fourth quarter but revenue more than doubled.

Veeva Systems (NYSE: VEEV) was selected to be GSK's global multichannel CRM partner.

JinkoSolar (NYSE: JKS) reported that there were no casualties from a fire at a raw material processing workshop and the incident would have no material impact on operations, financials or delivery commitments.

On the downside

magicJack VocalTec (Nasdaq: CALL) widened fourth quarter losses more than expected.

CHC Group (NYSE: HELI) disappointed by widening losses significantly for the fourth quarter.

StemCells (Nasdaq: STEM) widened losses for the fourth quarter.

In the broad market, declining issues outpaced advancers by a margin of more than 7 to 5 on the NYSE and by 5 to 4 on Nasdaq. The broader S&P 500 slipped 6 points to 2074. Bitcoin lost $4 to $284.
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