Markets plummet as crude oil tumbles

Crude oil prices tumbled below $36 per barrel to send the markets plummeting with the Dow diving 309 points to 17,265. Nasdaq collapsed 111 points to 4,933.


On the upside


Elliott Management acquired a stake in CenterPoint Energy (NYSE: CNP).


Energy Capital Partners completed its strategic review of Summit Investment, which owns a 43.8% interest in Summit Midstream Partners (NYSE: SMLP), and will continue its ownership of Summit Investments.


NCI Building Systems (NYSE: NCS) reported higher fourth quarter earnings and revenue.

On the downside


Bank of America downgraded The Container Store (NYSE: TCS) from a Buy rating to an Underperform rating.


Vince Holding (NYSE: VNCE) reported lower third quarter earnings and revenue and lowered its full year forecast.


Shares of Raptor Pharmaceuticals (Nasdaq: RPTP) continued falling.


In the broad market, declining issues outpaced advancers by a margin of more than 7 to 1 on the NYSE and by more than 5 to 1 on Nasdaq. The broader S&P 500 plummeted 39 points to 2,012. Bitcoin added $2 to $446.

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