Markets tumble as oil inventories climb

Rising crude oil inventories sent the markets tumbling during the midday with the Dow plunging 144 points to 17,704. Nasdaq fell 28 points to 4,908.

On the upside

Shares of Microvision (Nasdaq: MVIS) continued climbing.

Quiksilver (NYSE: ZQK) reported a narrower than expected loss for the first quarter.

Bargain hunters lifted shares of Amarin (Nasdaq: AMRN).

On the downside

Three board members of Chemical & Mining Co. of Chile (NYSE: SQM) resigned amidst a campaign finance scandal.

Concerns about slowing DRAM demand weighed down shares of Mattson Technology (Nasdaq: MTSN).

Citigroup cut its price target on FXCM (NYSE: FXCM) from 75 cents to 50 cents.

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 4 on the NYSE and by 9 to 7 on Nasdaq. The broader S&P 500 dropped 12 points to 2061. Bitcoin tumbled $19 to $261.
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