Falling crude oil prices along with a greater than expected drop in Chinese exports sent the markets tumbling to close sharply lower with the Dow plunging 109 points to 16,964. Nasdaq plummeted 59 points to 4,648.
On the upside
American Midstream Partners (NYSE: AMID) widened losses for the fourth quarter but the company forecast higher earnings for 2016.
Calavo Growers (NYSE: CVGW) reported higher first quarter earnings that topped analyst estimates.
A gain in the Brazilian real lifted shares of Itau Unibanco (NYSE: ITUB).
On the downside
Shares of Comstock Resources (NYSE: CRK) and Denbury Resourcers (NYSE: DNR) tumbled as crude oil prices retreated.
Investors locked in profits on Alcoa (NYSE: AA).
Vale (NYSE: VALE) secured options to acquire up to 15% of Fortescue Metals Group.
In the broad market, declining issues outpaced advancers by a margin of more than 3 to 1 on the NYSE and by nearly 7 to 2 on Nasdaq. The broader S&P 500 plunged 22 points to 1,979. Bitcoin eased a fraction to $412.
