The Federal Reserve lowered its economic growth outlook sending the markets tumbling with the Dow falling 61 points to 15,618. Nasdaq dropped 21 points 3930.
On the upside
DreamWorks Animation (Nasdaq: DWA) reported a sharp drop in third quarter earnings but the results were better than expected.
Shares of Criteo (Nasdaq: CRTO) surged on its first trading day on Nasdaq.
Level 3 Communications (NYSE: LVLT) narrowed third quarter losses more than expected.
On the downside
Merrimack Pharmaceuticals (Nasdaq: MACK) reported disappointing results from a Phase 2 study of its ovarian cancer treatment MM-121.
The Food and Drug Administration rescinded the ANCHOR study special protocol that had been granted to Amarin (Nasdaq: AMRN) for Vascepa.
Teva (NYSE: TEVA) chief executive Jeremy Levin resigned.
In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 2 on the NYSE and by nearly 3 to 1 on Nasdaq. The broader S&P 500 fell 8 points to 1763.
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