Federal Reserve chairman Ben Bernanke indicated that economic stimulus measures may decrease later this year sending the stock price plunging to a sharply lower close with the Dow collapsing 206 points to 15,112. Nasdaq plummeted 38 points to 3443.
On the upside
Nektar Therapeutics (Nasdaq: NKTR) reported positive results from a human abuse liability study for its chronic pain treatment NKTR-181.
A Seeking Alpha contributor wrote that Lee Enterprises (NYSE: LEE) was greatly undervalued.
Mediabistro (Nasdaq: MBIS) announced that Stratasys chairman and chief innovation officer S. Scott Crump will deliver the morning keynote address on July 10 at the Inside 3D Printing Conference & Expo while 3D Systems president and chief executive Avi Reichental will deliver the morning keynote on July 11.
On the downside
Shares of Vipshop Holdings (NYSE: VIPS) fell on news that China would not ease its monetary policy.
Zion Oil & Gas (Nasdaq: ZN) will conduct in-well testing at its Elijah #3 well.
Vitesse Semiconductor (Nasdaq: VTSS) will sell $30 million worth of common shares through a public offering.
In the broad market, declining issues outpaced advancers by a margin of more than 5 to 1 on the NYSE and by more than 5 to 2 on Nasdaq. The broader S&P 500 index plunged 22 points to 1628.
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