The markets reversed course during the midday with the Dow slipping 17 points to 15,970 as crude oil prices fell below $29.00 per barrel. Nasdaq tumbled 35 points to 4,452.
On the upside
Bargain hunters lifted shares of TimkenSteel (NYSE: TMST).
HollySys Automation Technologies (Nasdaq: HOLI) stock climbed as investors snapped up bargains.
Shares of Chimerix (Nasdaq: CMRX) continued to rise.
On the downside
Eleven Biotherapeutics (Nasdaq: EBIO) reported disappointing results from a Phase 3 clinical trial of its severe allergic conjunctivitis treatment isunakinra prompting a downgrade.
Falling crude oil prices weighed down shares of Bonanza Creek Energy (NYSE: BCEI).
Flotek Industries (NYSE: FTK) warned of declining oilfield activity in the fourth quarter and announced that the Securities and Exchange Commission opened an inquiry into the accuracy of the company’s FracMax software.
In the broad market, declining issues outpaced advancers by a margin of more than 5 to 2 on both the NYSE and on Nasdaq. The broader S&P 500 lost 7 points to 1,872. Bitcoin fell $6 to $379.
