The markets turned negative during the midday with the Dow tumbling 98 points to 17,789 after Federal Reserve chair Janet Yellen indicated that an interest rate increase was a near certainty. Nasdaq fell 16 points to 5,140.
On the upside
Wayfair (NYSE: W) reported an impressive 109% surge in overall gross sales during the 5-day Thanksgiving through Cyber Monday shopping period.
Moody’s downgraded Bon-Ton Stores (Nasdaq: BONT) credit rating from B3 to Caa1.
Och-Ziff Capital Management Group (NYSE: OZM) reported its estimated unaudited net returns.
On the downside
Investors locked in profits on Acorn International (NYSE: ATV).
OncoGenex Pharmaceuticals (Nasdaq: OGXI) reported that a subpopulation of men in a Phase 3 AFFINITY trial with custirsen experienced no improvement.
NRG Energy (NYSE: NRG) will sell two generating plants.
In the broad market, declining issues outpaced advancers by a margin of more than 5 to 2 on the NYSE and by more than 9 to 7 on Nasdaq. The broader S&P 500 fell 11 points to 2,091. Bitcoin slipped $2 to $358.
